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USDCAD: Elliottwave structure calling for extension higher

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 15, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliott Wave cycle suggests rally from wave (X) low at 1.38 is unfolding in a double three structure where wave W ended at 1.417, wave X ended at 1.406, and pair has resumed higher in wave Y towards 1.44 area or higher. Near term, rally to 1.431 ended wave (w), wave (x) pullback ended at 1.418, and wave (y) rally is in progress towards 1.443 – 1.452 area before a pullback in second wave (x) and then still another leg higher. While above 1.418, but more importantly as far as 1.406

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