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  • Forex Analyst

USDCAD Elliott Wave Charts

Usd/Cad 30 Min Chart

Friday, 20 November 2020 at 07:47 GMT

USDCAD can be pointing lower after a completed complex a-b-c corrective move in wave b)/ii), which found resistance slightly below the Fib. Ratio of 61.8. We now see a sharp fall, which suggests more weakness into a wave c)/iii) in a five-wave manner, accompanied by temporary pullbacks. At the same time we see Crude oil reversing higher in a five-wave move for a higher degree wave 1 and we specifically see price at the end of a triangle in sub-wave iv of 1, which will be completed once an impulsive break above the upper triangle line is seen.


Usd/Cad 4 Hour Chart

Wednesday, 25 November 2020 at 07:16 GMT

USDCAD may have ended a corrective sub-wave ii, as part of a higher degree wave 5 of A), as price broke below the 1.305 level. We still want to see an impulsive decline from current levels, which will confirm a sub-wave iii of 5 of A) to be underway.


Usd/Cad Daily chart

Nov 22 2020

USDCAD is in a five-wave, bearish move down from 1.467 level, labelled as a higher degree wave C. At the moment we see a potentially completed corrective wave 4 of C, near the Fib. ratio of 38.2, meaning current decline can already be part of a wave 5 of C, targeting the Fib. ratio of 261.8.

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