USDCAD

USDCAD 4Hr

The USDCAD expected to rise to around 1.1184 before retesting 1.1097, prices may however fall as far as 1.1027.

 USDCAD 1Hr

USDCAD is at the possible end of a 5 wave rally which may result in prices falling to as far as 1.1027 (brown line) which represents a 50% retracement of the total up move.

USDCAD, AUDCAD, EURJPY

USDCAD 4Hr

The USDCAD has risen to as far as 1.1058 and may rally to 1.1072 which represents the 1.41 extension of the largest downswing, before retesting the 1.099 price level. 

AUDCAD 1Hr

AUDCAD is in the middle of a triangle pattern, prices are expected to go lower. The 1.000 level is a key psychological level to watch, a strong close below this level would indicate that the bears are still in control and that lower prices are to be expected.

EURJPY 1Hr

The EURJPY is in a strong up trend on the hourly chart. 138.84 represents the level at which the length of wave [I] is equivalent to the length of wave [IV] and is a key price level to watch. Prices should retest 138.27 to test for selling pressure. A strong high volume close below 138.27 may result in prices falling to as far as 137.26 before finding strong support.

USDCAD

USDCAD 1Hr

USDCAD is showing signs of accumulation, there is signs of what might be aggressive buying,  from the high volume downthrust as prices went below 1.0827 (false break). This buying can be confirmed if prices close above 1.0893, however if prices close below 1.0827 expect lower prices.

USDCAD 4Hr

The blue line represents 50% retracement of prices from the July low to the August high and from the RSI you can see that there is a decrease in selling pressure, another reason to expect higher prices.

USDCAD Daily

You can also observed what looks like a bullish Head and Shoulder reversal pattern in formation, where the right shoulder comes in line with the left shoulder at 1.0809 (blue line), if this pattern holds the bullish trend is expected to continue.