Jump to content

U.S.Dollar /Canadian Dollar (USD/CAD) Forex Elliott Wave Technical Analysis


Recommended Posts

  
U.S.Dollar /Canadian Dollar (USD/CAD) Day Chart  
USD/CAD Elliott Wave Technical Analysis
FUNCTION:   Trend                            
MODE: impulsive                          
STRUCTURE:Red wave 3                          
POSITION:blue wave 3                        
DIRECTION NEXT LOWER DEGREES:red wave 4                            
DETAILS red wave 2 of blue wave 3 completed ,now red wave 3 is in play   . Wave Cancel invalid level:1.36187                    
The USD/CAD Elliott Wave Analysis for the Day Chart explores the U.S. Dollar/Canadian Dollar pair's movements using Elliott Wave principles, aiming to identify significant trends and potential price directions.
 
Function
The analysis describes the function as "Trend," indicating that the overall focus is on the primary market direction. This could point towards a stronger continuation of the current market trend, providing trading insights.
 
Mode
The mode of the Elliott Wave analysis is described as "impulsive." An impulsive mode suggests a stronger trend, characterized by significant directional price movements. It typically indicates the more aggressive waves in the Elliott Wave structure, with corrective waves being relatively smaller and shorter.
 
Structure
The structure specified in the analysis is "Red wave 3," which signifies that the price movement is in a strong impulsive phase within the Elliott Wave cycle. This wave is usually known for its pronounced price shifts, often resulting in large gains or losses.
 
Position
The position within the Elliott Wave cycle is given as "blue wave 3," indicating the degree of the structure being analyzed. This position generally follows corrective waves and is often the most extended in terms of duration and price movement.
 
Direction for the Next Lower Degree
The analysis indicates that "red wave 4" is the expected direction for the next lower degree, suggesting that after the current wave completes, a correction phase will follow before the trend continues.
 
Details
According to the analysis, "red wave 2 of blue wave 3" has been completed, which signals the end of a corrective wave and the commencement of the next impulsive phase. The current structure indicates that "red wave 3" is in play, suggesting a strong trend continuation. This indicates that the current upward momentum is gaining strength, which can be valuable information for traders and investors.
 
The "Wave Cancel invalid level" of 1.36187 is a critical marker. If the price exceeds this level, it could invalidate the current Elliott Wave structure, requiring a re-evaluation of the analysis. It serves as an important benchmark for assessing whether the existing trend and wave structure remain intact.
 
Overall, the analysis offers a comprehensive view of the USD/CAD pair's Elliott Wave structure on the day chart, outlining the current impulsive wave and providing insights into the broader trend context. It offers valuable information for traders and analysts seeking to understand the likely direction of the USD/CAD pair in the near term.
 
Forex24.thumb.png.88019b9a539586b08fcb77d701953aff.png
 
 
 
Elliott Wave Analysis Trading Lounge 4 Hour Chart,    
U.S.Dollar /Canadian Dollar (USD/CAD) 4 Hour Chart  
USD/CAD Elliott Wave Technical Analysis
FUNCTION:   Trend                            
MODE: corrective                          
STRUCTURE:black  wave 4                          
POSITION:Red wave 3                            
DIRECTION NEXT HIGHER DEGREES:black wave 5                            
DETAILS black wave 3 of 3 completed ,now black wave 4 is in play and near to end   . Wave Cancel invalid level:1.36187                    
The USD/CAD Elliott Wave Analysis for the 4-hour chart provides insights into the U.S. Dollar/Canadian Dollar pair, using the Elliott Wave principle to forecast future price movements.
 
Function
The function of this chart is identified as "Trend," indicating that the overall direction is aligned with a broader upward or downward movement, suggesting potential opportunities for trend-based trading strategies.
 
Mode
The analysis describes the mode as "corrective," indicating that the current phase of the Elliott Wave cycle is undergoing a corrective pattern. Corrective waves typically involve more complex price movements, reflecting a pause or reversal within the broader trend.
 
Structure
The structure is labeled "black wave 4," which gives insights into the current stage of the Elliott Wave cycle. In this context, wave 4 is generally a corrective phase within a larger trend, often characterized by complex and consolidated price action.
 
Position
The position of the current wave cycle is marked as "Red wave 3." This indicates the degree within the Elliott Wave hierarchy and provides context for the overall wave pattern.
 
Direction for the Next Higher Degree
The analysis points to "black wave 5," indicating that the broader trend is likely to continue, with the next higher-degree wave suggesting further upward or downward movement in the future.
 
Details
In this section, the analysis states that "black wave 3 of 3 is completed," indicating the end of the impulsive wave segment within the current wave cycle. Now "black wave 4" is underway and approaching its end. This implies that the corrective phase might be close to concluding, signaling potential opportunities for the next impulsive move.
 
Additionally, the wave cancel level is given as 1.36187, indicating that if prices reach this level, it would invalidate the current Elliott Wave count. This provides traders with an important risk management reference point. These insights can be used to guide trading decisions and manage risk effectively.
 
Technical Analyst Malik Awais
 
Source : Tradinglounge.com get trial here!
 
Forex24(1).thumb.png.bba5c189b4434d3b0d62848c6d97fcc2.png
 
 
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Bit Starz, a leading online casino known for its extensive selection of slots and table games, is offering an exciting promotion in 2024. By using the promo code “hella”, players can receive a generous 240 free spins, providing ample opportunities to win big on popular slot games. Overview of Bit Starz: Bit Starz is renowned for its wide variety of high-quality casino games, including slots, table games, and live dealer options. The platform is praised for its user-friendly interface, fast withdrawal times, and excellent customer support. Bit Starz accepts multiple currencies, including cryptocurrencies, making it a versatile choice for players worldwide. Promo Code and Bonus: Promo Code: hella Bonus: 240 free spins How to Use the Promo Code: Visit Bit Starz: Open your web browser and go to the Bit Starz website. Sign Up or Log In: If you are a new user, click on the “Sign Up” button to create a new account. You will need to provide your email, create a username, and set a password. If you already have an account, click on the “Log In” button and enter your credentials to access your account. Navigate to the Promotions Section: Once logged in, go to the promotions or bonuses section of your account. Enter the Promo Code: In the promo code field, type “hella” and click on the “Submit” or “Redeem” button. Claim Your Free Spins: After entering the code, you will instantly receive 240 free spins. These spins can be used on selected slot games available on Bit Starz. Benefits of the Promotion: The 240 free spins offer a significant advantage to both new and existing players. Free spins allow players to try out various slot games without risking their own money. This bonus can lead to substantial winnings, enhancing the overall gaming experience. Tips for Maximizing Your Bonus: Explore Different Games: Use your free spins to try different slot games on the platform. This helps in discovering which games you enjoy the most and where you have the best chances of winning. Check Game Contributions: Some games contribute more to wagering requirements than others. Make sure to play games that count significantly towards fulfilling these requirements. Stay Informed: Regularly check the promotions page for additional offers that can further boost your balance or provide extra rewards. By following these steps and using the promo code “hella”, you can maximize your gaming experience on Bit Starz. Enjoy the excitement and potential winnings with this generous 240 free spins bonus in 2024.
    • Unlock $0.15 in free coins on Bandit.camp in 2024 with the promo code “hellagood”. Bandit.camp is a popular gambling platform for CSGO players, offering various betting games and case openings. By using the code “hellagood”, players can start playing without any initial deposit, giving them a chance to explore the platform and potentially win big. How to Claim: Log In or Sign Up: Visit the Bandit.camp website and log in or create a new account. Access Promo Area: Navigate to the promo code section. Enter Code: Use “hellagood” in the designated field. Claim Free Coins: Receive $0.15 in free coins to use on the platform. This promotion is perfect for both new and existing players looking to explore Bandit.camp and enjoy their favorite games with extra funds. Take advantage of this offer to enhance your gaming experience and increase your chances of winning in 2024.
    • Get 30 free coins on CSGOLuck in 2024 by using the promo code “HELLAGOOD”. CSGOLuck is a well-known platform for CSGO betting games and case openings. By using the code “HELLAGOOD”, players can receive 30 free coins to enhance their gaming experience and increase their chances of winning. How to Claim: Sign Up or Log In: Visit the CSGOLuck website and create an account or log in to your existing one. Access Promo Section: Navigate to the promo code area. Input Code: Enter “HELLAGOOD” in the designated field. Claim Free Coins: Receive 30 free coins to use on the platform. This promotion is ideal for both new and existing players looking to maximize their gaming opportunities on CSGOLuck. Take advantage of this exclusive offer to enjoy free coins and enhance your chances of winning big.
×
×
  • Create New...
us