Elliott Wave Analysis: USDCAD Trading At The Start Of A Big Bearish Impulse

Gregor Horvat Wavetraders

USDCAD made a nice and sharp reversal lower into final wave 5 of 1) yesterday. Today's rally is the beginning of a corrective wave 2), with first leg A in the making. The ideal reversal zone for the undergoing wave 2) is around the 50.0 or 61.8 Fibonacci ratio, from where bears may again push price lower.

USDCAD, 4H

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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