Elliott Wave analysis: USDCAD and DAX Update

Gregor Horvat Wavetraders

USDCAD came lower and is now testing a support level at 1.2812 from where we may see a new turn up if we consider the shape of an expanded flat formation in four. If we get a deeper pullback, then keep an eye on 1.2782 level.

USDCAD, 1h

DAX did not respond much to NFP figures; we see slow price move here around 13200 so it can be just a small and minor pause within uptrend that may continue up to around 13300 or even to 13350 area from where we will expect a turn lower next week.

Dax, 1h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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