USDCAD has completed A and B within wave 5 of a multi-year ending wedge. Wave 5 seems to run faster than wave 3: It took 1.5 months to form AB in wave 3, and less than a month in wave 5.
I took a look at a few ABCs of type "small AB, large C": the time ratio of C / AB is often around 70%, so we may end the entire C (2500..3000 pips) still in July, which looks insane, but possible.
The move in wave C should run in parallel with the weakening of EUR, GBP, NZD, and will be accompanied by the sell-off in Crude, by the crash of SPX in wave 3-of-3 and most importantly by a substantial spike in treasury yields (TNX can hit 3%).
I took a look at a few ABCs of type "small AB, large C": the time ratio of C / AB is often around 70%, so we may end the entire C (2500..3000 pips) still in July, which looks insane, but possible.
The move in wave C should run in parallel with the weakening of EUR, GBP, NZD, and will be accompanied by the sell-off in Crude, by the crash of SPX in wave 3-of-3 and most importantly by a substantial spike in treasury yields (TNX can hit 3%).