CADUSD, Canadian Dollar Elliott Wave Analysis Update

By: Tony_Caldaro

In December, we posted a write up on the CADUSD

That report described the historical characteristics of the CAD from 1950 to present. It is a commodity driven currency like the AUD and ZAR. None of the long term, nor short term, patterns have changed at all since the last report. In fact, the CADUSD has remained in a medium term uptrend since August 2010.

We continue to label this uptrend as Minor wave A, of Intermediate wave C, of Major wave C. When the uptrend ends we should get a Minor wave B correction, and then another uptrend to complete Major wave C and Primary wave A of Cycle wave [C].

We’re expecting Primary wave A to conclude between CAD 106 and 108. At CAD 106 Primary A of [C] = Primary A of [A], and at CAD 108 Major C = 0.618 Major A. To track the CAD along with us just scroll down the following link:

CHARTS: http://stockcharts.com/...

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