Forex Trading Analysis
Hello Guys today is Thursday, September 26th 2024 I am going to analyze USD CAD currency pair let us start the top to botom Eliot wave analysis inside the daily time frame the trend is down in USD card currency per Daily time frame resistance is present at 1.3945 price level price action is most likely going to rise up and then drop more to complete bearish Wave by double zigzag leg in coming trading days decisive bullish breakout above 1.3945 resistance area is going to end the downtrend in daily chart of USD CAD currency pair
At 4-Hour time frame price action is printing lower swing highs into lower swing lows to me USD CAD pair Trend looks down in 4Hour time frame
At 1 hour time frame the trend is up in 1 hour chart intraday support is present at 1.3418 price level price action is most likely going to drop to print bearish wave two pull back and then rise up to print bullish wave three impulses left leg which offers a chance to join an uptrend in USD card pair a decisive bearish break below 1.3418 support level is going to end uptrend in one hour chart of United States dollar versus Canadian dollar currency pair
More specifically the green color highlighted area offers a buying opportunity which is the previous second wave of one lesser
