HomeContributorsTechnical AnalysisUSDCAD Trading In Final Leg Of A Correction, A Reversal Can Be...

USDCAD Trading In Final Leg Of A Correction, A Reversal Can Be Near

On the updated chart of USDCAD, we can see that pair could still be trading in wave 2) or B), after recent rally from the 1.2969 level, where we labeled sub-wave B. As such this whole consolidation could be a flat pattern in the making, with sub-wave C now in motion. If we are on the right track, than we now expect a five wave move to develop in the mentioned wave, ideally towards the area of a former wave A at 1.3386 level, where bulls may slow down and bears can take over.


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.

Featured Analysis

Learn Forex Trading