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USD/CAD Trapped Between Two Round Numbers

Daytrader21 Posted 30 June as Analysis on USD/CAD, Target: 1.2388, Date: 3 von August, 12:00 GMT  in #Technical analysis #USD/CAD #Range #Round Number #Seasonality Cycle #Psychological Numbers
Since the summer trading has begin the market has started moving inside some consolidation as the trading activity has chased away. We can tell that the current range is between two big round figures and psychological numbers: 1.2500 current top of the range and resistance and 1.2000 current bottom of the range and support level(see Figure 1).
Important level to watch:
  • 1.2000 = Support, Big round number and psychological numbers;
…
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Daytrader21 10 July

Update 1: So far USD/CAD has not been following the seasonality pattern and instead we had another run towards previous swing high at 1.2700. However taking in consideration the seasonal cycle we may assume there is less upside to follow and we should expect some retracement.

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AUD/USD ABC Correction

Daytrader21 Posted 15 Jan. as Analysis on AUD/USD, Target: 0.8188, Date: 2 von March, 12:00 GMT  in #Technical analysis #AUD/USD #Elliott Wave #Range #Abc Correction #Seasonality Cycle
Aussie is in the final stage to complete the Elliott Wave cycle that begin with the 2013 sell off. So far the market has corrected the sell off that started from 2013 with only 2 wave that can be subdivided in another 3 wave of smaller degree. Based on my Elliott Wave count we have already complete the 5 wave cycle. Right now wave 5 is completed and we should expect from here on an ABC correction
Even though the cycle may be complete that doesn't mean we can't have a new marginal low, belo the b…
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4 Kommentar
VictoriaVika avatar
VictoriaVika 15 Jan.

You work hard now, bravo. And good luck :)

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Daytrader21 24 Jan.

Update 1: The market has decided to continue trading to the downside despite the 0.8000 big round number and strong support. However if we take in consideration the seasonality we should expect by the end of January and beginning of February to see aussie start recovering from this losses.

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Daytrader21 14 Feb.

Update 2: Due to broad based dollar strength across the board aussie has been trading to the downside very aggressively without any kind of correction. Right now the 0.7600 level has been rejected for 2 times and we're forming a box trading but in order for aussie to turn back up again we need a daily close above 0.7880 current resistance level

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Daytrader21 22 Feb.

Update 3: It appears that wave V is having an extension in the wave 3 and such there is still more downside before to see any retracement. However based on my Elliott Wave count we're in the stage  of wave 4 of V, we have just completed a five wave sequence of lower degree to complete wave 3 of V and now we can see a retracement back to retest the big round number 0.8000

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