Daily Archives: June 18, 2018

Canadian Dollar Daily Chart Bear Attack Update

At the peak in September 2017, analysts hyped our Canadian dollar along with the oil price.  After the “C” wave bullish phase completed, it also completed a wave 4 peak in Intermediate degree.  At this time our CAD has not developed any pattern that shows us that a bull market is coming. In fact the exact opposite is happening. The experts have little knowledge of the damage that can be done, when we are bullish but the opposite happens. They have no idea what a bear market rally is or what has to happen after. My description is that bear market rallies always retrace their entire move, which happens at all degree levels.

Now that they think fundamantals have worsened and I’m sure they will switch to a bearish mood as this bearish phase progresses.  Fundamentals are lagging conditions to price and sometimes it could take years for the fundamentals to catch-up to the price.  My parrell lines are based on the top two points and it gives us a rough idea when to expect another big counter rally.

Maybe at the “B” wave low we could see some short term support but in the end our CAD must completely retrace its entire bullish move, that started at the early 2016 lows.  Our Canadian dollar is not the only bear market rally, as I have many that I’m working on.

Our September high was in Intermediate degree, so once this all finishes all my CAD wave counts will jump up by a minimum of one degree. Most of the time it will be a two-degree change. This can still be a few years away so don’t get any ideas that we are going to blast off in some 5 wave bull market in Primary degree.

Any Primary degree 5 wave sequence will not happen until after any Cycle degree 4th wave bottom has been hit! The trade wars may sound real but a lot of damage can be caused by some imaginary dragon just the same.

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