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Friday, August 23, 2013

Elliott wave analysis of EUR/CAD

EUR/CAD

I will update the text later, but a quick note.

The structure of the rally since the 1,2129 is very powerful and does look impulsive in character. That should mean, that we should be looking for much higher levels in the coming months as wave iii of 3 moves higher towards at least 1,5497, but I would not be surprised to see a extension higher towards 1,7073.
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4 comments:

  1. HaiGoAugust 23, 2013 at 6:29 PM

    Thanks EWS for analyzing other pairs.

    Could you please update us on NZDUSD? It seems the correction is over.

    Haigo

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    Replies
    1. Elliott wave surferAugust 25, 2013 at 1:24 PM

      Hi Haigo,

      I totally agree with you. I think we have started wave 3 lower, but could soon seen a correction in wave ii of 3 just to be followed by the next very powerful decline lower.

      Kind regards
      EWS

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  2. UnknownAugust 24, 2013 at 10:17 AM

    Hi EWS hope you are having a great weekend
    Gold 4hr looks like in wave v 100% fibo of wave iii for the bottom of wave iv comes in at 1411.90 and fibo exspansion from wave ii bottom to wave iii top to wave iv bottom come in at the same level within a few pips is this a good place for wave v termination whats your thoughts

    Best Regards jt

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    1. Elliott wave surferAugust 25, 2013 at 1:30 PM

      Hi JT,

      I would not normally look for that Fib-relationship you mention. That said we could see a top just above your target at 1,413 and if that breaks we should look for a top closer to 1,430.

      Kind regards
      EWS

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