Elliott Wave Analysis: USDCAD and Crude OIL

We can see metals moving slightly higher this morning, despite some USD gains seen against the EUR and GBP. Commodity currencies are doing quite well, with a short-term bullish structure on the Aussie and a bearish one on USDCAD. Our focus is still on USDCAD where we see a break beneath the trendline support that can potentially send prices lower into wave five, but after a completion of wave two.


Oil is also very important here, which did not form a bottom yet, but it may occur around 46.50.

Crude oil, 1h

Get the 5 most predictable currency pairs[1]

from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/llLk-roVFHA/

from Online Forex Trading Resource
View thesource article here


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s