USDCAD Starting Super Bearish Cycle (GANN and Cycle Study)

USD remains in strength during last weeks. Further it was understood that USD remain in strength during few years as being only white shirt among dirty shirt economies. This fallacy seems to diminish. On super cycle. It’s seem bullish impulsive wave at it maturity and bearish ride going to start which prevail for next few months and can extend. Fed pro-business and pro-growth regime effects along tight control seem to loose effect. Its natural law that effects over time start getting fading.

Second historical studies shown that on super cycles fundamental have less role and markets adopt their own rhythm and dynamics which must be honored to determine the super long term cycles.

Third R.N Elliot have mentioned the start of Corrective Wave A  during 2000’s on grand Cycle which seem to be the time when start of it would be initiated.

This study is focus on USDCAD monthly chart analysis from different prospective to get 3 D visualization of Currency behavior in next few month increasing probability of analysis by having confluence by different studies.

Price Action study shows price have established Swing failure confirmation a strong prognosis for price to be bearish for upcoming months. Price down move momentum was very fast and that it starts fading now a bearish flag pattern formed which is strong evident of upcoming bearish moves in next few months on break down.

If look at past performance it had impulsive bearish channel which breakout and have upward correction. Which is seem to mature now price again going to adopt its bearish impulsive direction.

Fib study revealed that price is struggling at 38.2 forming bearish Flag continuation pattern on breakdown of Flag it would break down Fib 38.2 level moving toward Fib level 50.

As its not corrective wave so hoped it will ultimately break out Fib 50 Level and shall try to find ultimate support on any further level.

Price movement among channels reveled that price is in bearish channel and at key reversal level to adopt bearish ride for upcoming months.

Cycle study revealed that price is in cyclic movement among strong support and resistance LEVELS and again this time price again rejected from strong resistance level making strong biased for USDCAD to be under bearish influence. Second cycle now get in extended range showing increased volatility in coming days and last 1 year

Cycle study revealed that price is in cyclic movement among strong support and resistance LEVELS and again this time price again rejected from strong resistance level making strong biased for USDCAD to be under bearish influence. Second cycle now get in extended range showing increased volatility in coming days and last 1 year

Harmonic study revealed that Bearish Gaterly formed. PRZ validated making a strong biased for USDCAD to have master bearish direction for next few month on monthly charts. At the same time 45 % quality Bearish head and shoulder pattern is emerging.

And same is being validated by GANN

Price adopted bearish GANN Channel and rejected from 180 GANN Level. Shall have correction upto 45 GANN level. And failed to maintain 45 GANN level and reverse.

Support: 

GANN ANGEL (Degree)                                 Price

90                                                           1.24172

135                                                         1.07178

180                                                         0.91434