USDCAD is trading higher on the 4h chart, now above red wave B) swing high which suggests that big consolidation pattern since end of May can be finished. As such, we will expect sharper waves this week, ideally higher into wave C-circled, which is a motive wave so recovery may continue even towards 1.3450 area while price trades above 1.2924 short-term invalidation level. So we expect higher prices to follow, but still need to be aware of sub-wave corrections that could be happening right now as we see price in a possible wave 2).
USDCAD, 4H
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