Elliott Wave Forecast Team
ElliottWave-Forecast.com
The Toronto-Dominion Bank (TD) provides various financial products & services in Canada, US & internationally. It operates through three segments: Canadian retail, US retail & Wholesale banking. It is based in Toronto, Canada, comes under Financial services sector & trades as “TD” ticker at NYSE.
As discussed in the previous article, TD ended wave I as impulse sequence at $86.02 high & favors lower in zigzag sequence in II. It confirmed the lower low sequence in daily, expecting weakness in ((C)) leg of II towards weekly blue box area. Currently, it favors corrective bounce in (2) in 3, 7 or 11 swings against ((B)) high before downside resumes in (3). TD – Elliott Wave View From 3.20.2023:
In weekly sequence from $33.74 low, it placed I at $86.02 high as impulse. It ended ((1)) at $51.34 high & ((2)) at $42.90 low as 0.5 Fibonacci retracement of ((1)). It ended ((3)) at $73.85 high as third wave extension & ((4)) at $62.81 low as 0.382 Fibonacci retracement. Finally, it ended ((5)) at $86.02 as wave I impulse sequence on 2.11.2022 high. While below there, it favors lower in II correction in zigzag sequence.
TD - Elliott Wave latest weekly view
Below $86.02 high, it placed ((A)) as diagonal at $57.27 low on 10.13.2022. It favored ended ((B)) as 3 swing corrective bounce at $70.67 high on 2.14.2023. It already showing lower low sequence below ((A)) low, calling for weakness in ((C)) towards $41.94 – $35.15 area & may hold above $33.74 low to see at least 3 swing bounce or may resumes higher in III, which confirms above wave I high. Currently, it favors bounce in C of (2) bounce against ((B)) high before downside resumes in (3) of ((C)). It can bounce towards $64.87- $69.00 area & should fail below ((B)) high to resume lower in (3).
TD – Elliott Wave latest daily view
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended content
Editors’ Picks
USD/JPY hovers around 161.00 after Japan's verbal intervention
USD/JPY is trading at around 161.00, consolidating its uptrend to a 38-year high of 161.28. Japanese Finance Minister Suzuki issued warnings on a probable FX intervention. Markets stay cautious amid intervention risks and ahead of the US PCE inflation data.
AUD/USD stays pressured toward 0.6600 as US Dollar bounces ahead of PCE data
AUD/USD remains pressured toward 0.6600 in the Asian session on Friday. The US Dollar has found its feet, tracking the renewed USD/JPY strength, weighing negatively on the pair. Investors look to the US PCE inflation data for fresh Fed policy cues and a trading impetus.
Gold price drifts lower ahead of US PCE Price Index, holds above $2,300 mark
Gold price struggles to capitalize on the overnight strong bounce from a two-week low. Fed rate cut uncertainty helps limit the USD corrective slide and caps gains for the metal. Traders also seem reluctant to place aggressive bets ahead of the key US PCE Price Index.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC struggles around the $62,000 level
Bitcoin price faces pullback resistance at the lower band of the descending wedge around $62,000. Ethereum price finds support at $3,288, the 61.8% Fibonacci retracement level. Ripple price faces resistance at $0.500, its daily resistance level.
Friday calendar stacked with first-tier data
Key standouts on Friday’s calendar come from German import prices, UK GDP, German unemployment, Canada GDP, US core PCE, personal income, personal spending, Michigan sentiment, Chicago PMIs, and Fedspeak.