USD/CAD Starting Super Bearish GANN Cycle

USD remains strong during last weeks. Further, it was understood that the US Dollar remains in strength during the last years as being the only white shirt among dirty shirt economies. This fallacy seems to diminish on super cycle. It seems bullish impulsive wave at it maturity and bearish ride going to start which prevail for next few months and can extend. Fed pro-business and pro-growth regime effects along tight control seem to loose effect. Its natural law that effects over time start fading.

Second historical studies shown that on super cycles, fundamental have less role and markets adopt their own rhythm and dynamics which must be honored to determine the super long term cycles.

Third R.N Elliot have mentioned the start of Corrective Wave A during 2000’s on grand Cycle which seem to be the time when start of it would be initiated.

This study is focus on USD/CAD monthly chart analysis from different prospective to get 3 D visualization of Currency behavior in the next few month and the increasing probability of analysis by having confluence by different studies.

Price action study shows that the price have established Swing failure confirming  a strong prognosis of price to be bearish for upcoming months. Price down move momentum was very fast and that it starts creating now a bearish flag pattern form which is a strong evident of upcoming bearish moves in the next few months on break down.

If we look at the past performance of USD/CAD, it had an impulsive bearish channel which breakout and have upward correction. This is seem to mature now with price is going to adopt its bearish impulsive direction.

Fibonacci study reveals that price is struggling at 38.2 and forming a bearish flag creating a continuation pattern on breakdown. A break down below Fib 38.2 level will probably continue moving toward Fib level 50.

As its not corrective wave, it will ultimately break out Fib 50 Level and shall try to find ultimate support on any further level.

Price movement among channels revealed that price is in bearish channel and at key reversal level to adopt bearish ride for the upcoming months.

Cycle study revealed that USD/CAD price is in cyclic movement among strong support and resistance LEVELS and again this time price was rejected from strong resistance level, making strong biased for USD/CAD to be under bearish influence. Second cycle now get in extended range showing increased volatility in coming days.

Harmonic study reveals that Bearish Gaterly formed PRZ pattern, making a strong biased for USD/CAD to have a master bearish direction for next few month on monthly charts. At the same time 45% quality Bearish head and shoulder pattern is emerging.

And same is being validated by GANN

Price adopted the bearish GANN Channel and rejected from 180 GANN Level. Shall have correction upto 45 GANN level and failed to maintain 45 GANN level and reverse.

Support:

GANN ANGEL (Degree)                  Price

90                                                           1.24172

135                                                         1.07178

180                                                         0.91434