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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • USDCAD Is Turning Bullish-Elliott Wave Forecast 0 comments
    Aug 7, 2013 3:30 AM

    USDCAD found a support around 1.02560 last week, from where the first reaction appears to be in impulsive fashion through the upper trend-line of a corrective channel. We know that impulses show direction of a trend or change in trend. As such, we are looking higher now, and it's also because of a previous three wave decline from above 1.0600 which was a corrective move, so larger trend remains up and is now in continuation mode. Current wave 2/B could be looking for a support around 1.0300-1.0330. Invalidation point for bullish outlook is at 1.0243.

    If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAYS!

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