So USDCAD been in a correction for the past week and I think the correction will likely end here so I expect the bullish trend to resume very soon. We have a classic ABC correction and the market has come into a previous structure resistance which will now act as a support, this zone is also happens to be the 127.0 Fibonacci zone of the (A) mini impulse leg. Which should get a move back up to at least the upward trendline and depending on how the market reacts there, we would either break and continue upside or the market will like come back again and that will make it a 5 wave correction before we eventually resume the bullish trend.
Any opposing views or comments are welcomed.
Any opposing views or comments are welcomed.