USDCAD is turning up sharply this week from our Fibonacci support level that projected a low near 1.2460. We see a sharp reversal with more than 400pips so far which is not a surprise as sharp reaction is very common after a completed ending diagonal. When this pattern is finished price will tend to return back to the start point of this pattern which in our case is near 1.3180. This is far away so we expect more gains after any pullback, especially if we also consider that big five wave drop in black wave A is now accomplished on higher time frames.
USDCAD, 4H
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