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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

Mar 15, 2019

American Express Co.: wave analysis 15 March 2019, 08:29


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 112.33
Take Profit 115.00, 120.00
Stop Loss 110.00
Key Levels 100.89, 103.73, 107.14, 115.00, 120.00
Alternative scenario
Recommendation SELL STOP
Entry Point 107.10
Take Profit 103.73, 100.89
Stop Loss 108.25
Key Levels 100.89, 103.73, 107.14, 115.00, 120.00
The trend is upward.
On the 4-hour chart, the correctional wave of the higher level 4 of (5) of A formed, and the development of the wave 5 of (5) began. Now the first wave of the lower level i of 5 is developing as a momentum, within which the wave (v) of i is forming. If the assumption is correct, the price will grow to the levels of 115.00–120.00. In this scenario, critical stop loss level is 107.14.


Main scenario
Long positions will become relevant during the correction, above the level of 107.14 with the targets at 115.00–120.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price below the level of 107.14 will let the price go down to the levels of 103.73–100.89.

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