AUDUSD Looks For Resistance; USDCAD Bounces From The Lows

AUDUSD is also in a triangle consolidation pattern. We will soon see the completion of wave C, with a D and E wave to follow for a complete full pattern completion.

On this pair we would also stay aside until the pattern is completed. 4 waves can be long in time and for traders it is crucial to stay patient and not be pulled in to trade until the structure is completed. Often, trading of the 4 waves causes lots of bad trades and affects traders’ confidence.

AUDUSD 1h Elliott Wave Analysis

USDCAD is still in the process of making its signature on potential lows. We have seen a sharp upward price action last Friday with a current choppy price action. For now, we have marked the end of the wave 4 on our charts. Nevertheless, we would like to see more upside confirming price action on this pair to confirm this anticipation.

USDCAD 1h Elliott Wave Analysis

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

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