This pair has been very frustrating of late and from what I have seen, it is a bit of a rouge pair as it doesn't follow the DXY basket movements even though it accounts for 9.1% of it's movements. With that in mind, CAD must be the corrective pair in the DXY as it does the opposite to EUR and CHF which explains the rouge / corrective nature that the Looney is.
However, it does look like it has come to an end based on my EW count as listed below.
Updated count:
Overall count I have is a Flat correction (3-3-5) broken down like this...
Wave C: - Ending Diagonal or an ascending triangle (5 waves broken down into 5 x 3 corrective waves) Wave 1: Double ZZ (WXY) Wave 2: Flat Correction Wave 3: Double ZZ (WXY) Wave 4: ZZ Correction wave 5: ZZ Correction (Key thing to note here is that wave A vs. C has now hit 100% which is a key termination point so possible reversal could be in play)
I am not looking for short entry for a possible BIG short to target 1.15720.