Short trade on the CAD

In line with the dollar index and most of the dollar pairs we are looking for a short trade back down to the previous low. We are currently in a corrective phase and it looks like wave A is nearing completion. As always wait for confirmation of any break out before opening a trade. See the links below for the other dollar pairs and index forecast.

I'll update my analysis as price develops so remember to follow to receive them.

Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.

You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon

Comment:

Still waiting for a break of the trend line. No short trade set up yet