USDCAD - Short Possibility (Elliott Wave)
Currency: USDCAD
Frequency: Daily
Predicted Direction: Short
USDCAD followed the Bearish consolidation after BOC raised the benchmark I.R by 25 basis point to 1% (2nd time 2017). The strength of Canada's growth will support further rising of I.R in 2018.
I expect the price will test the psychological level of 1.20 soon and then it will have a corrective wave to Wave 4, providing a short opportunity at approx. 1.22/23.
Short: 1.22/23
Stop Loss: 1.25
Target 1: 1.18020 - 1.19785 (Support Zone)
Target 2: 1.15360 (61.8% Fib)
Frequency: Daily
Predicted Direction: Short
USDCAD followed the Bearish consolidation after BOC raised the benchmark I.R by 25 basis point to 1% (2nd time 2017). The strength of Canada's growth will support further rising of I.R in 2018.
I expect the price will test the psychological level of 1.20 soon and then it will have a corrective wave to Wave 4, providing a short opportunity at approx. 1.22/23.
Short: 1.22/23
Stop Loss: 1.25
Target 1: 1.18020 - 1.19785 (Support Zone)
Target 2: 1.15360 (61.8% Fib)
Note
Note
The price completed the minor corrective wave 4 and reach our selling zone of 1.22/23. USDCAD will soon to test the lower of the support zone and hit the first target
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.