Tuesday, 12 December 2017

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USD/JPY and USD/CAD: wave analysis

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USD/JPY: wave analysis A downtrend is strong. Assumingly, wave A continues forming within a large “bearish” correction. Locally, wave c of A as an impetus seems to be forming. If the assumption is correct and the price does not break though the critical level of 120.35, the pair continues declining to 117.00. Trading tips Sell the pair from corrections, below the level of 120.35 with the target at 117.00. Alternative scenario The breakout and consolidation above the level of 120.35 would allow the pair to grow further to 121.00-122.00.

jpy jpy1

    USD/CAD: wave analysis A decline continues. An upward impetus has formed within the third wave of the senior level (3). At present, a large “bearish” correction as the fourth wave (4) seems to be forming within which the first wave A as a zigzag is forming. If the assumption is correct, the pair continues declining to 1.2680. A critical for this scenario is the level of 1.3074 the breakout of which would allow the pair to grow to 1.3220-1.3320. Trading tips Sell the pair from corrections, below the level of 1.3074 with the target at 1.2680. Alternative scenario The breakout and consolidation above the level of 1.3074 would allow the pair to grow to 1.3220-1.3320.

cad cad1

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Erick Gálvez
Author: Erick GálvezWebsite: http://www.asdforex..comEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.
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