HomeContributorsTechnical AnalysisUSDCAD Trading In A Temporary Correction, Resistance Seen Around 1.3464/1.3496 Region

USDCAD Trading In A Temporary Correction, Resistance Seen Around 1.3464/1.3496 Region

Elliott Wave Financial Service
By Elliott Wave Financial Service

On the hourly chart of USDCAD, we see price undergoing a bigger three wave recovery A-B-C. Current intraday strength is part of final wave C, that may extend its gains towards the Fibonacci ratio of 61.8. Resistance may also be seen around the 1.3464/1.3496 region, where previous swing highs may act as turning points lower.

USDCAD, 1H

Start Trading
Start Trading
Start Trading
Start Trading

Get daily and weekly ActionForex analysis and key releases on our Telegram channel.

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Latest Analysis

Load more

Learn Forex Trading