USDCAD: Two Scenarios, Both Look For Bullish Move

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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