Elliott wave Analysis: USDCAD Can be Headed for 1.2908
Good evening traders!
We have seen a nice turn up on USDCAD following the BOC rate decision, so technicals once again turned out to be ahead of the news. We can see a sharp reaction to 1.2800, where is 161.8% extension target for wave three, so ideally that's a beginning of a new bullish leg, headed above 1.2908.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
We have seen a nice turn up on USDCAD following the BOC rate decision, so technicals once again turned out to be ahead of the news. We can see a sharp reaction to 1.2800, where is 161.8% extension target for wave three, so ideally that's a beginning of a new bullish leg, headed above 1.2908.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.