Elliott Wave Free Forex Signal

Currency pair = USD/CAD

Today I bring in one more currency to my Elliott wave signal.Its the Canadian dollar ( CAD) currency.

A little introduction from Wikipedia.
CAD of has been the currency of Canada since 1858. It is normally abbreviated with the dollar sign $, or C$ or CAD$ to distinguish it from other dollar-denominated currencies.[1] It is divided into 100 cents. The Canadian dollar is the monetary basis for the Canadian economy, with all coins minted by the Royal Canadian Mint and all banknotes printed by the Canadian Bank Note Company and BA International Inc on behalf of the Bank of Canada.

CAD/USD Elliott Wave Signal.

Elliott wave Signal for Medium term with high risk trade.

TimeFrame = Daily.

Signal = Limit Sell Signal when market retrace at price 1.0090-1.0080 area.

Target Profit = First target is wave v at 0.9835 area

Stop Loss = 1.0160 area.

Risk Reward Ratio = between 0.0 and 0.5 (HIGH RISK)

USD/CAD Elliott wave Analysis :-

From our analysis USD/CAD just made an extended impulsive elliott wave iii down so we expect there is a retrace in market price in near term.

This signal is triggered if market intend to continue its momentum to the lower low.

Our Entry is open between 1.0080- 1.0090 area with the first target at moderate degree of elliott wave v between 0.9850-0.9830 area.And if market continue to expand our final target for extended wave v may archived.

All our Elliott wave counts illustrated in below USDCAD daily chart:-

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This entry was posted on Saturday, September 22nd, 2007 at 10:42 pm and is filed under Elliott Wave Signal USD-CAD.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.