Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Chart of the Day: Usd/Cad Impulse Structure

TheLFB A Forex Trader Portal

Chart of the Day:


Usd/Cad found a top recently around the 1.0600 region, where a Long, black wave III) could found its highs. It looks as though there is a Short, corrective wave IV) already developing, which may drop down to 38.2% retracement zone of the wave III) distance, before an up-trend may continue.

Once wave IV) is complete, we will look for a higher wave V), which should complete the whole impulse structure of a red wave I. Another reversal will then be expected.

TheLFB Charting: Usd/Cad 4h view 

If you would like to be a part of, to receive a full Elliott wave detail for Usd/Cad, and if you want to know what comes next and what to expect from the market, then join us now.

Follow Elliott Wave charts and updates on twitter.

Disclosure: NO pos.