![]() |
Elliott wave Analysis: USDCAD and Crude OIL ConnectionTop ↑ Our Services NEW!!Elliott Wave School Feb 14 2019
USDCAD turned down very aggressively in January, but then turned sideways so it appears that some tricky price structure can be unfolding here. Well, we are observing a complex correction, ideally a flat which is now unfolding its final leg C up that can look for resistance at previous wave A swing high; at 1.337 level. From there we should be aware a turn into stronger CAD, and potential drop down into wave C) back to February lows. USDCAD, 4h ![]() If you are trading USDCAD then you should be watching oil prices too. Keep in mind that higher oil prices are bearish for USDCAD. In fact, on oil we see ongoing recovery on a daily chart with more upside coming after wave B set-back is finished. And that’s the time when USDCAD may finally turn down very aggressively. Crude oil, daily ![]() Below we also have a chart of the negative correlation between Crude oil and USDCAD. ![]() Newsletter archive
|
New York time: 00:00:00
Local time: 00:00:00

E-mail: |
HOME
MEMBERS
SERVICE
NEWSLETTER
ELLIOTT SCHOOL
CONTACT
©2010 - 2020 ew-forecast.com
Design: VOBI