Elliott Wave Analysis: EURUSD, USDJPY & USDCAD Nov 12

EURUSD

EURUSD made a nice three wave upward bounce in wave four in the last 24 hours, which could already be finished, as the  pair turned down earlier from 1,0780. Ideally, the pair is headed lower within wave 5 of 3) that has room for a drop to 1.0680, once wave 3 low is taken out.

EURUSD, 1H

USDJPY

USDJPY is still in a pullback mode but three waves are already visible, so a break higher may occur soon. However, it’s important to keep an eye on the break out of the downward channel to confirm further rise, back to the highs and even to 124.00.

USDJPY, 1H

USDCAD

USDCAD turned to become more complex within a pullback from the high but is still with a corrective quality. The price action is now testing the upper side of the corrective channel line, which is expected to be broken today, a move that will cause a new bullish run to the highs.

USDCAD, 1H

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