Good morning traders!
Today's focus will be on USD/CAD and its overnight development.
USD/CAD found sellers yesterday and this occurred exactly from 1.2766 swing and 38.2% Fib. level. We see sharp turning point to the downside, so we assume that wave 4) is finished and that price is headed lower into wave 5). If we are correct then you know that full recovery since July low should be fully retraced.
USD/CAD, 4H
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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