Elliott Wave Analysis: USDCAD, Crude Oil and GOLD Sharp Movements! 


Gregor - Author BIO photo


USDCAD is on the move with a clear impulse down from 1.3429 level so a five-wave decline is what we expect towards 1.3150/1.3100 area in the upcoming sessions. But at the same time, we must look what oil will do here at 55.00-56.00 area.


intraday usdcad


intraday oil


As dollar breaks down, gold recovers, currently on the way to 1400 psychological mark after some important resistance were broken. We see metal coming out of triangle, so it’s wave 5 that already reached first important resistance but looks like more upside can be seen, as minor reversal down can be a sub-wave 4.

Gold, 1h



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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