Monday, 5 June 2017

Canadian: What's Next

Hi Traders,

The USDCAD (now at 1.34884) seems to be heading to the support at 1.322. Possible long term target the area 1.283-1.267 and also around 1.213


The historical chart display the completion of the major a-b-c retracement in c 2, (53c2, top right in the monthly chart)

The monthly chart shows the same huge a-b-c from 0.905 to 1.469. Then, in the weekly chart, the new trend started with wave 1 and wave 2, the latter being the typical continuation pattern.

The daily chart shows the same continuation pattern in its entirety (a-b-c in blue) and the targets at the area 1.329-1.328 and around 1.322.

The 4-hour chart displays 4 waves down, out of 5 (in magenta). The 5th is on its way. Note also the support at 1.3454.

Historical chart. Click to enlarge

Monthly chart. Click to enlarge

Weekly chart. Click to enlarge

Daily chart. Click to enlarge

4-hour chart. Click to enlarge

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