AndyM

USDCAD, much more upside to 1.3270, once correction is over

Long
FX:USDCAD   Dollar Américain / Dollar Canadien
USDCAD is highly correllated to Crude, and its wave structure is pretty clear. Wave 3 has been completed mid march, the correction in wave 4 is completed, and the first impulse of wave 5 is over. Now that the correction in wave 5.2 completes, the upward movement will resume.

It is unclear if the correction is over or not. It may well be over, but depending on Crude performance can very well go for another round of zigzags and flatten itself further in the range of 1.2130 - 1.2450. I have very little doubt that this is a correction and it will be fully retraced in an upward movement sooner or later, but I need to wait for a confirmation of an impulse-correction structure in order to enter the next impulse.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.