#13190

New Post has been published on http://u.to/mW_oDw

Trade Idea: USD/CAD - Sell at 1.3190

USD/CAD – 1.3082

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

Original strategy       :

Sell at 1.3180, Target: 1.3000, Stop: 1.3240

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3190, Target: 1.3000, Stop: 1.3250

Position: –

Target:  –

Stop:-

As the greenback has rebounded after falling marginally to 1.3019, suggesting consolidation above this level would be seen and recovery to 1.3140-50 cannot be ruled out, however, reckon resistance at 1.3190 should limit upside and bring another decline later, below said support at 1.3019 would extend the decline from 1.3599 to 1.3000 and then towards 1.2950 but oversold condition should prevent sharp fall below 1.2900, risk from there has increased for a rebound to take place later.  

In view of this, we are still looking to sell on recovery as 1.3190-00 should limit upside. Above 1.3240-50 would defer and risk a stronger rebound to 1.3300-10 but upside should be limited to 1.3340-50 and price should falter below previous support at 1.3387, bring another decline later.

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 http://u.to/mW_oDw

Trade Idea: USD/CAD - Sell at 1.3190

USD/CAD – 1.3082

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

Original strategy       :

Sell at 1.3180, Target: 1.3000, Stop: 1.3240

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3190, Target: 1.3000, Stop: 1.3250

Position: –

Target:  –

Stop:-

As the greenback has rebounded after falling marginally to 1.3019, suggesting consolidation above this level would be seen and recovery to 1.3140-50 cannot be ruled out, however, reckon resistance at 1.3190 should limit upside and bring another decline later, below said support at 1.3019 would extend the decline from 1.3599 to 1.3000 and then towards 1.2950 but oversold condition should prevent sharp fall below 1.2900, risk from there has increased for a rebound to take place later.  

In view of this, we are still looking to sell on recovery as 1.3190-00 should limit upside. Above 1.3240-50 would defer and risk a stronger rebound to 1.3300-10 but upside should be limited to 1.3340-50 and price should falter below previous support at 1.3387, bring another decline later.

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 http://u.to/mW_oDw

Trade Idea: USD/CAD - Sell at 1.3190

USD/CAD – 1.3082

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

Original strategy       :

Sell at 1.3180, Target: 1.3000, Stop: 1.3240

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3190, Target: 1.3000, Stop: 1.3250

Position: –

Target:  –

Stop:-

As the greenback has rebounded after falling marginally to 1.3019, suggesting consolidation above this level would be seen and recovery to 1.3140-50 cannot be ruled out, however, reckon resistance at 1.3190 should limit upside and bring another decline later, below said support at 1.3019 would extend the decline from 1.3599 to 1.3000 and then towards 1.2950 but oversold condition should prevent sharp fall below 1.2900, risk from there has increased for a rebound to take place later.  

In view of this, we are still looking to sell on recovery as 1.3190-00 should limit upside. Above 1.3240-50 would defer and risk a stronger rebound to 1.3300-10 but upside should be limited to 1.3340-50 and price should falter below previous support at 1.3387, bring another decline later.

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.