Hello friends
In the AUDCAD currency pair, we see the formation of a 3-wave pattern. In counting Elliott waves, these 3 waves are considered either a zigzag pattern or 3 out of 5 impulse waves. Therefore, there is a need for price correction in both cases.
Microwaves of wave 3 or C are clearly formed, except for its 5th wave.
Therefore, we are currently waiting for the formation of the fifth wave, when the price should rise.
1.618 Fibonacci ratios between waves 1 and 3 or A and C are very common, and the price should reach the range of 0.9200.
This number is both a trend and overlaps with a resistance and Fibonacci ratio.
Therefore, we expect to reach this range.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost.
Be successful and profitable.
In the AUDCAD currency pair, we see the formation of a 3-wave pattern. In counting Elliott waves, these 3 waves are considered either a zigzag pattern or 3 out of 5 impulse waves. Therefore, there is a need for price correction in both cases.
Microwaves of wave 3 or C are clearly formed, except for its 5th wave.
Therefore, we are currently waiting for the formation of the fifth wave, when the price should rise.
1.618 Fibonacci ratios between waves 1 and 3 or A and C are very common, and the price should reach the range of 0.9200.
This number is both a trend and overlaps with a resistance and Fibonacci ratio.
Therefore, we expect to reach this range.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost.
Be successful and profitable.