USDCAD has turned impulsive to the downside from 1.1278, clearly in five waves for wave (a) that is now showing signs of completion around 1.0858 after recent bounce through the upper channel resistance line. RSI has also turned up from the oversold conditions and suggests a recovery for the pair that will ideally be a three wave move back in wave (b), towards 1.100-1.0160 zone. More upside to come in this week.
USDCAD 4h Elliott Wave Analysis
usdcad elliott wave

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