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ew-forecast

USDCAD Making A Reversal

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
ew-forecast  
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD Elliott Wave correction impulsive
10
1
usdcad elliottwaves correction impulsive
USDCAD is rising sharply as crude oil goes straight down after NFP report. We see more weakness in play for energy markets as USD trend can be coming, so that would make ideal scenario for bullish USDCAD. A five wave rally from 1.2850 low is needed for bullish turn to be confirmed. Lets see if price can stay above 1.3052 today; if not then bears can drive pair back to the lows next week.

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