USDCAD Is Up But Slow Bullish Waves Suggest A Coming Reversal

USDCAD is higher but bulls are looking tired here based on some slow and choppy price action with decreasing momentum as seen on the RSI reading. That's a very often characteristics for wave C of a zigzag that indicates a coming reversal. In our case that should be to the downside as larger trend is still down. There is also gap from Sep 16th, as well as former wave four that could react as a resistance. With that in mind, be aware of a sell-off from around 1.0350 zone.

USDCAD 1h

Written by www.ew-forecast.com

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USDCAD Is Up But Slow Bullish Waves Suggest A Coming Reversal

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