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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...

Jul 10, 2019

JP Morgan Chase Co.: wave analysis 10 July 2019, 09:22


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 113.37
Take Profit 122.50, 127.80
Stop Loss 107.50
Key Levels 85.90, 97.79, 107.50, 122.50, 127.80
Alternative scenario
Recommendation SELL STOP
Entry Point 107.40
Take Profit 97.79, 85.90
Stop Loss 110.60
Key Levels 85.90, 97.79, 107.50, 122.50, 127.80
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops. Now, the fifth wave of the lower level v of 5 is forming, within which the wave (iii) of v is developing. If the assumption is correct, the price will grow to the levels of 122.50–127.80. In this scenario, critical stop loss level is 107.50.


Main scenario
Long positions will become relevant during the correction, above the level of 107.50 with the targets at 122.50–127.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 107.50 will let the price go down to the levels of 97.79–85.90.

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