USD/CAD: 3-Wave Correction In Sight
Gregor Horvat | Nov 27, 2015 03:45AM ET
USD/CAD moved to a new high recently, but with decreasing momentum based on RSI reading. Notice that there was a strong divergence since end of October, so we assume that pair found a temporary top now and that price will make a three wave corrective set-back. As such, move up from October low was labeled as leading diagonal in wave 1, so price can turn lower into wave 2 in days ahead.
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