Elliott Wave Analysis: USDCAD and EURGBP 

eurgbp analysis

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Elliott Wave Analysis: USDCAD and EURGBP

USDCAD broke out of a triangle on Friday and is now making a new impulsive run up; thus a five wave move that may continue within wave C) towards 1.2680-1.27 this week. However, we may see more sideways and slow intraday price activity today above 1.2600 for black wave 4, so maybe there can be a retest of 1.26, before market jumps into wave 5 of C).


usdcad analysis

We covered EURGBP a few times last week and highlighted a bullish view because of corrective wave down from 0.9031, which is now labeled as subwave A as recovery up to 0.9022 unfolded as another correction, wave B. As such, current leg down is an impulse, probably final part of a red wave B) that can stop at 0.8850 this week, so we would not be surprised to see a new change in trend after a few days.


eurgbp analysis


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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