Elliott wave Analysis: USD/CAD and OIL Facing Reversals!
|Hello traders!
USDCAD perfectly hit 1.3100 target for wave »v« and at the same time even a negative correlated market crude oil can be approaching 5th wave, so we would not be surprised if we see some reversals at least in three waves. However, to confirm a potential pullback, USDCAD needs to turn back above 1.3200 region, while crude oil bears may show up only if we see a drop below 55 region.
USDCAD, 1h
Crude oil, 1h
Interested in active FX or CRYPTO Elliott Wave labeled charts on a daily basis? Now it's your time; we have a SPECIAL offer; 50% Off on FX and Crypto markets. Check Elliott Wave Forecast website for more details.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.