USDCAD- Long Only Above 1.3280 Saved us

FX:USDCAD   U.S. Dollar / Canadian Dollar
100 0 5
(( )) - Means circled alphabet            

Note- if UCAD does not move above 1.3125 & sustains above that zone & moves below 1.3000- which is critical level then this complete sequence gets changed.

I was very clear in my earlier updates that we should look for long only above 1.3280

This fall from close to 1.3280 to current lows@1.3048 still looks to be part of ((y))-wave -yes it was extended as it is an irregular flat in a ((y)) - wave. This correction could end if USDCAD             starts moving above 1.3123-1.3125 zone & sustains above that zone- Then we shall start an upside move in coming sessions.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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