EURUSD fell to a new low yesterday as expected after only a three wave rally last week to 1.3443, where we called the end of a fourth wave. From that high, the market made five waves down now. So, sooner or later the pair will look for some support and turn up once again with three legs. We however would have to see a move back above 1.3400 to expect a larger retracement.
EURUSD 1h Elliott Wave Analysis
USDCAD reached the upside projected levels at 1.0970 after a break out from a triangle yesterday. We see the pair now in the final stages of wave v) of (iii) so be aware of a bearish reversal in the sessions ahead. But, keep in mind that any downward move will be temporary and part of a correction within the big uptrend.
USDCAD 1h Elliott Wave Analysis
