{"id":166040,"date":"2020-03-06T11:09:46","date_gmt":"2020-03-06T16:09:46","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166040"},"modified":"2020-03-06T10:11:43","modified_gmt":"2020-03-06T15:11:43","slug":"usdcad-eyeing-1-35-as-part-of-primary-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/usdcad-eyeing-1-35-as-part-of-primary-correction\/","title":{"rendered":"USDCAD: Eyeing 1.35 As Part Of Primary Correction"},"content":{"rendered":"
March 6, 2020<\/div>
\r\n<\/div><\/div>

By <\/strong>Orbex<\/strong><\/a><\/p>\n

On USDCAD, the final part of the cycle degree wave\u00a0x<\/strong>\u00a0seems to be currently forming. It consists of the primary sub-waves \u24b6-\u24b7-\u24b8.<\/p>\n

Wave \u24b6 is a completed bullish zigzag, wave \u24b7 is a double zigzag, and wave \u24b8, \u00a0a bullish 5-wave impulse consisting of intermediate sub-waves (1)-(2)-(3)-(4)-(5).<\/p>\n

Given that the minor wave 5 is currently under development, the trend could continue to the 1.35 area. This target would respect the tenancy of 5-wave impulses (3) and (5) being equal.<\/p>\n

Taking into account the current proportions of the intermediate waves, the completion of the bullish trend in the area of the specified level is very likely.<\/p>\n

\"\"<\/a><\/p>\n

An alternative scenario indicates that the intermediate wave (4), which is part of the primary impulse \u24b8, might not be completed just yet.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

With such structure in mind, wave (4) can take the form of a minor horizontal triangle A-B-C-D-E.<\/p>\n

If this hypothesis is correct, we can expect to see a sideways movement, as indicated on the chart.<\/p>\n

After the completion of wave (4), the trend will likely continue in wave (5). This could end near or above the 1.35 area, as triangle breakouts usually come with strong momentum.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex On USDCAD, the final part of the cycle degree wave\u00a0x\u00a0seems to be currently forming. It consists of the primary sub-waves \u24b6-\u24b7-\u24b8. Wave \u24b6 is a completed bullish zigzag, wave \u24b7 is a double zigzag, and wave \u24b8, \u00a0a bullish 5-wave impulse consisting of intermediate sub-waves (1)-(2)-(3)-(4)-(5). Given that the minor wave 5 is […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-166040","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=166040"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166040\/revisions"}],"predecessor-version":[{"id":166056,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166040\/revisions\/166056"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}