{"id":56595,"date":"2014-08-14T07:00:00","date_gmt":"2014-08-14T11:00:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=56595"},"modified":"2014-08-14T07:00:00","modified_gmt":"2014-08-14T11:00:00","slug":"no-double-pass-this-time-usdcad-wave-analysis","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/no-double-pass-this-time-usdcad-wave-analysis\/","title":{"rendered":"No double pass this time. USD\/CAD wave analysis"},"content":{"rendered":"
August 14, 2014<\/div>
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Article By RoboForex.com<\/span><\/a><\/strong><\/p>\n

Analysis for August 14th<\/sup>, 2014<\/h2>\n

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In our previous review, \u201cExpecting downtrend. Wave analysis of USD\/CAD for 06.08.2014\u201d, we discussed one of the possible scenarios how the price may move inside a possible ascending zigzag<\/em> (b)<\/strong>.<\/p>\n

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After completing an ascending impulse a of (b)<\/strong>, the price was expected to start a deep descending correction b of (b)<\/strong> towards 1.0750 in the form of Elliott double pass. However, this time the pair decided to form this correction in the form of a small horizontal triangle<\/em>, which may be completed quite soon. If this assumption is correct, then in this situation it\u2019s quite logical to close short positions and prepare new trading plans in the opposite direction, because the uptrend is expected to be dominating.<\/p>\n

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The wave structure on H4 chart implies that the market is completing a descending correction b of (b) of [iv]<\/strong>, after which the price may continue forming an ascending zigzag<\/em> (b) of [iv]<\/strong> towards level of 1.25.<\/p>\n

Right now, the critical level for this scenario is level of 1.0619.<\/p>\n

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As we can see at the daily chart, the market continues forming a descending correction [iv] of C<\/strong>, which may take the form of flat<\/em> or a long horizontal pattern.<\/p>

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However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.<\/p>\n

RoboForex <\/strong>Analytical <\/strong>Department<\/strong><\/p>\n

Article By RoboForex.com<\/span><\/a><\/strong><\/p>\n

Attention!<\/strong>
\nForecasts presented in this section only reflect the author\u2019s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.<\/p>\n

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

Article By RoboForex.com Analysis for August 14th, 2014 In our previous review, \u201cExpecting downtrend. Wave analysis of USD\/CAD for 06.08.2014\u201d, we discussed one of the possible scenarios how the price may move inside a possible ascending zigzag (b). After completing an ascending impulse a of (b), the price was expected to start a deep descending […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-56595","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/56595","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=56595"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/56595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=56595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=56595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=56595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}