USDCAD Wave Analysis: Beware Of Bullish Turn

USDCAD fell sharply last week so obviously corrective wave (4) is much bigger and more complex. An updated count shows break down out from a triangle placed in wave B), so wave C) is now in play; final leg of a contra-trend move from 1.2833 high. With that said, bullish turn may still follow in the future, maybe already at the start of the week as wave C) reached important equality level compared to wave A). If pair will bounce in five waves and go through 1.2330 resistance that this would be new chance for bulls to take control.
USDCAD 4h Elliott Wave Analysis

Written by www.ew-forecast.com

Check our service at Fxstreet.com

Views: 104

Comment

You need to be a member of Forex Social Network to add comments!

Members

© 2019   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video