- A very important event took place yesterday. The US Federal Reserve raised their rates by .50%. Before that there was some talk among the traders about it. So after raising their rates, the US dollar weakened. This is because the USD has been BUY in the past due to the sentiment of traders on the rates they are raising. Other economic indicator data...
- The most important indicator data for the US dollar is due to be released today. ISM MANUFACTURING DATA is one of the most important DATA. So we need to look at the US dollar today. Also, the Canadian dollar is not showing any significant news today. - DXY is currently at 103.72 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is...
- There is a very important EVENT for CAD today. BOC GOV. MACKLEM is going to do a SPEAK. It will make USDCAD VOLATILE. GDP, CORE PCE DATA for USD is due out this week. GDP DATA will also be released for CAD. - DXY is currently at 101.553 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is slightly down to 0.7852 LEVEL. However,...
We may have a possible contracting triangle scenario if price drops from 1.3310. Price is still on the trajectory to reach the TP projection of the Garltey pattern @ 1.3415. A clear uptrend and with clear structure formation. Wait for confirmation before looking for any buy setups.
D1 FRAME USDCAD ELLIOT WAVE USDCAD 5 MOVES LONG TERM WHAT'S GOING ON WE"LL SEE THAT
Hi Traders! The USDCAD H4 chart shows that the rally from 1.32499 to the top at 1.34501 is an impulse Elliot Wave structure. It has since made a deep corrective structure in wave "ii" which seems to have completed and unfolded as a zigzag pattern. Wave "ii" terminated at 78.6 Fib ratio of wave "i" and also last daily price action closed as bullish pin bar at...
Hello ladies and gentlemen, i hope you all having a nice weekend. Today we have a post with educational idea of elliot waves. Let's observe together, i hope you will like it. Rules of Elliot waves: 1- Second wave's low is higher than first wave's low. 2- If second wave makes a sharp correction, 4th wave will make a flat correction or vice a versa. 3-If 3rd wave...