Intraday Elliott Wave Analysis: USDCAD And USDJPY


USDCAD has three legs down within a parallel trendline followed by a recent move out of downward channel which means USDCAD is likely to retest 1.0990 level, and then 1.1 psychological level.

USDCAD Elliott Wave Analysis

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USDJPY could be very interesting pair for long set-up in the next one or two trading days. Notice that we are tracking a contratrend price action from 105.00 where we labeled end of wave 1 so current pullback should be then a corrective wave 2. We are observing idea of an (a)-(b)-(c) in progress that may stop either at 104.07 or 103.75 support.

USDJPY Elliott Wave Analysis Intraday

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