Elliott Wave: USD/CAD Nears Resistance, Weakness In View
Gregor Horvat | Jul 05, 2019 10:20AM ET
Hello fellow traders!
USD/CAD made a sharp recovery lately from the lows, which we labelled as sub-wave c of 4, that can be part of a flat correction. A flat is a three-legged pattern, where legs a and b are structure by three waves, and final leg c has five of them. Sub-wave c of 4 can face resistance, and a bearish turn near the Fibonacci ratio of 23.6/38.2 (1.315/1.320 region).
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