USD/CAD made a sharp intra-day bounce at the end of last week, which we see it getting stronger and stronger after a completed wave 2 correction. Ideally a base has been posted for wave 2 at the 1.2446 level and now a new five-wave rise will follow into black wave 3. That said, the possible head&shoulder formation can also indicate more gains on the pair, above the 1.2685 level and towards the 1.2977 level, where Fibonacci ratio of 161.8 can project end of wave 3.
USD/CAD, 4H
Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI