USDCAD made a sharp and swift move to the downside two weeks back after an ending diagonal formed in wave 5) that confirmed a top near 1.3790. A nice drop is now in play, currently in third wave of a decline that can be wave 3 or C, but in both cases there is room for 1.3525. That being said, if price keeps falling, then wave 3 can be in motion, which can ideally reach the Fibonacci projection ratio for 261.8.
Disclosure:
We do not own any assets or share of the instrument mentioned in our outlook
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
Disclosure:
We do not own any assets or share of the instrument mentioned in our outlook
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.