USD/CAD: Three Wave Correction In Sight

Published 10/29/2015, 05:31 PM

USD/CAD turned nicely higher recently after the price broke above 1.3075 swing high of a former wave (iv) which confirms a bullish price action in progress. Based on latest moves we see pair going back to the yearly highs but before uptrend may resume we expect a pullback to around 1.3040 area. There we can swing low of a former wave four and also 50-61.8% Fibo levels that are very important reversal zones.

USD/CAD, 4H

USD/CAD 4 Hourly Chart

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