USD/CAD Turning Bullish - Elliott Wave Analysis
Gregor Horvat | Aug 11, 2020 04:13AM ET
{7|USD/CAD}} looks to have found a low for a higher degree wave 5 of C) at the 1.323 level, where a five-wave structure within a wave 5 had ended, and a sharp recovery started forming. We see current rise breaking above the upper channel line, which suggests a low in place, and a three-wave reversal underway. That said, be aware of temporary pullbacks; wave b/ii can be next.
A later break above the 1.345 level will be bullish for the pair.
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