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USD/CAD: technical analysis 15 October 2019, 12:43

USD/CAD: technical analysis 15 October 2019, 12:43 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.324...

Oct 11, 2019

American Express Co.: wave analysis 11 October 2019, 09:56


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 114.99
Take Profit 108.09, 104.51
Stop Loss 120.18
Key Levels 104.51, 108.09, 120.18, 126.70, 129.37
Alternative scenario
Recommendation BUY STOP
Entry Point 120.25
Take Profit 126.70, 129.37
Stop Loss 118.10
Key Levels 104.51, 108.09, 120.18, 126.70, 129.37
The price is in a correction, a fall is possible.
On the 4-hour chart, the wave A of the higher level developed, and the development of downward correction as the wave B started. Now, the first wave of the lower level 1 of (A) of B is forming, within which the wave iii of 1 of (A) is developing. If the assumption is correct, the price will fall to the levels of 108.09–104.51. In this scenario, critical stop loss level is 120.18.


Main scenario
Short positions will become relevant below the level of 120.18 with the targets at 108.09–104.51. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 120.18 will let the price grow to the levels of 126.70–129.37.

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