EUR/CAD has been trading to the downside since beginning of the last year when we put in place the major swing high at 1.5600. Based on Elliott Wave cycle we're in the last stage of this sell of, as currently the market is developing of 3 of V. Each impulsive wave is composed by another 5 wave of smaller degree and we can count this wave both in wave III and now in wave V. Expecting wave 3 of V to end at 1.2900 or 1.300 big round number before to see a minor retracement or at least some conso…
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USD/CHF Large Range Key Reversal
Since latest SNB intervention in the market from around 2 years ago USD/CHF have been trading in a big range zone from a high of 0.9970 to a low of 0.8890, an wide 1080 pips range zone. Based on Elliott Wave theory we can easily see that this contracting range over the last 2 years has form a triangle that conforms the requirement of 5 waves based on Elliott Wave analysis. Based on this I see the last deep towards the 0.8890 low, labeled E in Figure1 as the last corre…