USDCAD- B-Wave finishes in the zone1.3230-1.3240 zone(60-70pips)

27 בספט׳ 2016

USDCAD pushed up in a B - wave from lows1. 3170's to current High1. 3230. We are likely to finish B-Wave Upside & Shall look for a retracement in C-Wave -which will be confirmed once UCAD starts moving below 1.3210 & sustains below that level.

C-Wave measures equality in the zone 1.3125-1.3135 which is also confluenced by 50% retracement -likely suggesting that zone could be the halting zone before it starts upside again.

It's a temporary peak -shall correct to have much bigger move - yellow wave-i had high-1.3235 was retraced 50% by yellow wave -ii making a low@1.3000 on the FED decision day. Since then we moved 1st wave in iii-wave. Currently moving into 2nd wave of iii-wave. This 2nd wave is discussed above (which has opened in 3 waves A-B-C)

What next?
We are waiting for C-wave to finish 2nd wave in yellow iii-wave. Targets for iii -wave could be same distance as of i-wave which comes in the zone 1.3410-1.3415 or 161.8% of yellow wave-i which comes in the zone 1.3665-1.3675