USDCAD turned up last week, and rallied close to 1.2800 this week so that decline from 1.2834 was completed on March 27th with three waves. As such, a whole structure since February appears to be a running triangle. With that said, latest leg up can be sharp wave D) with wave E) pullback now in play that will complete sideways move at 1.2460/1.2600 zone. Even alternate count (ALT on the chart with wave 1) at the high) suggests more upside after any three wave retrace.
USDCAD 4h Elliott Wave Analysis
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