Elliott wave Analysis: USDCAD
Gregor Horvat | Feb 25, 2019 10:37AM ET
Hi traders,
USDCAD is sharply recovering from the 1.311 low, giving us first evidences that wave i as part of a bigger bearish cycle is completed, and that wave ii is now in play. Corrective wave ii can now unfold three minor legs a)-b) and c), with possible resistance and reversal zone near the Fibonacci ratio of 50.0 or 61.8 (1.3170/1.3190 region), from where a new bearish price activity may again follow.
USDCAD, 1h
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