USDCAD - 14th October 2024 | @ 81 Days | + 2.13%
Last trade: + 2.13% | 'A' class signal detected in USDCAD. Running at an average wavelength of 81 days over 12 iterations since February 2022. Currently peaking.
ΣL Cycle Summary
This sublime periodic feature in USDCAD just rolls on and on. Stationary for years now and a stand out signal among all financial markets, the component around 80 days average wavelength has once again moved as anticipated. Indeed, amplitude has also been largely maintained for this up leg, likely due to the lack of price influence/power from larger components, resulting in the overall sideways price action we see in our sample. The current phasing now suggest a peak is due for this metronomic wave, see below for more detail.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Buy - USDCAD 4th September 2024
Entry: 4th September 2024 @ 1.35060
Exit: 14th October 2024 @ 1.37935
Gain: 2.13%