USDCAD is moving down in November, but still with a corrective structure. Updated count shows a double zigzag in progress with another leg down in view towards 1.1120-1.1160 area where pair can be looking for a support and completed wave 4. Once we see evidences of a completed contra-trend move, we will turn bullish again for new highs.
USDCAD 4h Elliott Wave Analysis…Continue
Cable is trading nicely lower for the last couple of weeks, and possibly now breaking down within wave three of three towards 1.5300 projected region, where we see 161.8% extension of wave 1) measured from wave 2) high. As such, based on the current price action we expected more weakness this month as long as 1.5950 swing high will stay in place.
GBPUSD Elliott Wave Analysis…Continue
As expected, AUDUSD fell to a new low of the year last at the start of the month after we recognized a sideways price action which was wave four. After wave four you will see wave 5, which means that an impulse from 0.9500 is probably done, so traders must be aware of a new rally but of a larger degree, possibly even back to 0.8900. Ideally that will be wave B) correction, now already in progress with its three legs.
AUDUSD Daily Elliott Wave Analysis…Continue
USDJPY has reached levels around 119 in this week so we see pair forming an extended structure, now in wave 5 that needs to be made by five waves. For now that is still not the case from 115.45 wave 4 low, so traders must be aware of even higher prices in sessions ahead, close to 120 psychological figure. We would call end of a bullish swings only if 116.34 support would be taken out.
USDJPY 4h Elliott Wave Analysis…Continue