Based on latest swings and substructure since late November we suspect that USDCAD completed an extended wave three, so new corrective set-back is in play. We are tracking wave 4 retracement back to 1.3670-1.3780 area where support can be found this month. After that we will look at a new continuation higher, with wave 5 up to around 1.4100.
USDCAD, 4H
USDCAD, 4H
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