USD/CAD Presenting New Bullish Momentum
|The pair ended 5 waves on one-hour chart which present wave one on four-hour chart and then followed it with three corrective waves (ABC) on one-hour chart that represents the second wave on the four-hour chart.
Now the pair started in the bullish momentum again which represents the third wave and the pair confirms the bullish momentum due to the bellow:
- The pair bounced from 50 % Fibonacci level of wave one.
- Made a strong bullish candle on the four hours chart.
- Breaking the 144 EMA and 21 EMA and closing above them.
So, the bullish momentum exists to end the third wave and we expect three targets, the first target at the last high around 1.2686, the second target at (-27.2%) Fibonacci and the third target at (-61.8%) Fibonacci level.
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