#13420

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

Trade Idea: USD/CAD - Sell at 1.3420

USD/CAD – 1.3400

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       :

Buy at 1.3275, Target: 1.3475, Stop: 1.3215

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3420, Target: 1.3220, Stop: 1.3470

Position: –

Target:  –

Stop:-

Although the greenback has risen again today, loss of upward momentum should prevent sharp move beyond 1.3435-40 and bring retreat, below 1.3360-65 would bring test of support at 1.3317 but break there is needed to signal top is possibly formed, bring weakness to 1.3270-75 and later towards 1.3210-20 which is likely to hold on first testing.

In view of this, we are looking to turn short on recovery. Above 1.3460-70 would risk gain to 1.3500 but still reckon upside would be limited to resistance at 1.3538, risk from there remains for another retreat 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/bVCNDw

Trade Idea: USD/CAD - Sell at 1.3420

USD/CAD – 1.3400

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       :

Buy at 1.3275, Target: 1.3475, Stop: 1.3215

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3420, Target: 1.3220, Stop: 1.3470

Position: –

Target:  –

Stop:-

Although the greenback has risen again today, loss of upward momentum should prevent sharp move beyond 1.3435-40 and bring retreat, below 1.3360-65 would bring test of support at 1.3317 but break there is needed to signal top is possibly formed, bring weakness to 1.3270-75 and later towards 1.3210-20 which is likely to hold on first testing.

In view of this, we are looking to turn short on recovery. Above 1.3460-70 would risk gain to 1.3500 but still reckon upside would be limited to resistance at 1.3538, risk from there remains for another retreat 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/bVCNDw

Trade Idea: USD/CAD - Sell at 1.3420

USD/CAD – 1.3400

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       :

Buy at 1.3275, Target: 1.3475, Stop: 1.3215

Position: –

Target:  –

Stop: –

New strategy             :

Sell at 1.3420, Target: 1.3220, Stop: 1.3470

Position: –

Target:  –

Stop:-

Although the greenback has risen again today, loss of upward momentum should prevent sharp move beyond 1.3435-40 and bring retreat, below 1.3360-65 would bring test of support at 1.3317 but break there is needed to signal top is possibly formed, bring weakness to 1.3270-75 and later towards 1.3210-20 which is likely to hold on first testing.

In view of this, we are looking to turn short on recovery. Above 1.3460-70 would risk gain to 1.3500 but still reckon upside would be limited to resistance at 1.3538, risk from there remains for another retreat 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.