USDCAD analysis for short term as per Wave Theory
Please check the Long term analysis for the bigger picture;
As per the bigger picture we know there is a Flat structure forming and hence we will have a downward Impulse; In short we will have a 5 Wave structure formed in the downward direction; Below is the Wave 1 complete picture verifying every Wave in the Wave 1 which confirms completion of the Wave 1 and now Wave 2 will be an Upward Move as its gonna be a Correction;
Confirms completion of Wave 1
After the completion of Impulse we have a Correction hence here is the picture of the Type 2 Zigzag (where Wave A or C one of them is 5 Wave Impulse whilst other is a ABC correction)
This completes WAVE A a 3 Waved structure and now Wave B is forming lets check it out as well;
For now we have a downward 5 Wave Impulse almost formed which makes Wave A (Wave A of Wave B) then we will have an upward Correction (Wave B of Wave B); then we will have a downward correction structure Wave C (Wave C of Wave B)
After completion of Wave A and B which will be both 3 Wave structures then we will have an Upward Impulse a 5 Wave structure.
This will complete WAVE 2 on the bigger picture;
I am sure about this analysis; this is based on Elliott Wave Theory
As per the bigger picture we know there is a Flat structure forming and hence we will have a downward Impulse; In short we will have a 5 Wave structure formed in the downward direction; Below is the Wave 1 complete picture verifying every Wave in the Wave 1 which confirms completion of the Wave 1 and now Wave 2 will be an Upward Move as its gonna be a Correction;
After the completion of Impulse we have a Correction hence here is the picture of the Type 2 Zigzag (where Wave A or C one of them is 5 Wave Impulse whilst other is a ABC correction)
This completes WAVE A a 3 Waved structure and now Wave B is forming lets check it out as well;
For now we have a downward 5 Wave Impulse almost formed which makes Wave A (Wave A of Wave B) then we will have an upward Correction (Wave B of Wave B); then we will have a downward correction structure Wave C (Wave C of Wave B)
After completion of Wave A and B which will be both 3 Wave structures then we will have an Upward Impulse a 5 Wave structure.
This will complete WAVE 2 on the bigger picture;
I am sure about this analysis; this is based on Elliott Wave Theory