#13120

New Post has been published on https://worldwide-finance.net/analysis/trade-idea-usdcad-buy-at-1-3120

Trade Idea: USD/CAD - Buy at 1.3120

USD/CAD – 1.3186

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Near term up

New strategy             :

Buy at 1.3120, Target: 1.3300, Stop: 1.3060

Position: –

Target:  –

Stop:-

As the greenback has surged again after brief pullback to 1.3110, suggesting another leg of corrective rise from 1.2969 is underway and above resistance at 1.3212 would add credence to this view and extend further gain to 1.3250 and then 1.3300, however, near term overbought condition should limit upside and price should falter well below resistance at 1.3388.

In view of this, would not chase this rebound here and would be prudent to buy on subsequent pullback as 1.3110 support should limit downside. Only below support at 1.3074 would abort and signal top is formed, then further choppy trading would take place and weakness to 1.3030-35 would follow but support at 1.3009 should hold from here.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on https://worldwide-finance.net/analysis/trade-idea-usdcad-buy-at-1-3120

Trade Idea: USD/CAD - Buy at 1.3120

USD/CAD – 1.3186

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Near term up

New strategy             :

Buy at 1.3120, Target: 1.3300, Stop: 1.3060

Position: –

Target:  –

Stop:-

As the greenback has surged again after brief pullback to 1.3110, suggesting another leg of corrective rise from 1.2969 is underway and above resistance at 1.3212 would add credence to this view and extend further gain to 1.3250 and then 1.3300, however, near term overbought condition should limit upside and price should falter well below resistance at 1.3388.

In view of this, would not chase this rebound here and would be prudent to buy on subsequent pullback as 1.3110 support should limit downside. Only below support at 1.3074 would abort and signal top is formed, then further choppy trading would take place and weakness to 1.3030-35 would follow but support at 1.3009 should hold from here.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on https://worldwide-finance.net/analysis/trade-idea-usdcad-buy-at-1-3120

Trade Idea: USD/CAD - Buy at 1.3120

USD/CAD – 1.3186

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Near term up

New strategy             :

Buy at 1.3120, Target: 1.3300, Stop: 1.3060

Position: –

Target:  –

Stop:-

As the greenback has surged again after brief pullback to 1.3110, suggesting another leg of corrective rise from 1.2969 is underway and above resistance at 1.3212 would add credence to this view and extend further gain to 1.3250 and then 1.3300, however, near term overbought condition should limit upside and price should falter well below resistance at 1.3388.

In view of this, would not chase this rebound here and would be prudent to buy on subsequent pullback as 1.3110 support should limit downside. Only below support at 1.3074 would abort and signal top is formed, then further choppy trading would take place and weakness to 1.3030-35 would follow but support at 1.3009 should hold from here.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.