NZDUSD Looking For A Top and USDCAD Just Going Bullish 

intraday usdcad

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NZDUSD is trading bullish, unfolding a five-wave recovery within wave C. Current sub-wave v of C, that is on display is extended and can search for a top near the upper channel line, where even Fibonacci ratio of 61.8 can offer resistance and a turning point. A later break below the lower channel line would suggest a three-wave bearish reversal.


nzdusd elliott wave

USDCAD is breaking higher, away from corrective wave 2, that found a base near the Fibonacci ratios of 61.8. Latest strong rally is now a suggestion for more upside to follow into black wave 3, with sub-wave one and two already completed. We know that wave three is usually the strongest, so current rally is already part of wave three that may pull price even higher.


intraday usdcad


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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