AndyM

USDCAD upward impulse still in place, waiting for big correction

FX:USDCAD   U.S. Dollar/Canadian Dollar
Good morning!

Here's an update on EW structure of USDCAD             . This time I labelled the structure from the middle - from the point with the highest momentum, then going further away into the top and the bottom of the move. This is supposed to give more accuracy to the analysis as this allows to avoid the risk of calling the final top five too early.

In my view the advance is still not finished. Based on the "right look" guideline and the current labeling we still need to see a properly sized wave (5) which is supposed to overshoot the previous high. I do believe this is still due and the movement we are currently tracing is still a correction in w(4).

Once w(5) is complete we are going to see a very spectacular move down, in sync with a rally in Crude. We are talking about a 1-year impulse that's about to end, so the correction which will happen after will be a very sweet opportunity to take advantage of.
Good Job Andy :)
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hello sir , i feel that 1.31891 is just been tested and that it will go down to 1.3140 if it break it then it will go to 1.31081, onl;y if if it breack that lower it will go to 1.2900 this is my perdition hope to here from you about this . thanks
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Looks great!
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AndyM PRO NickCoulby
Really looking forward to this last piece of my trading plan to materialize. Gold is doing well, SPX is running by the script, only Crude needs to fire up!
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Great job Andy, killing it.
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good analysis Andy. I had a similar one. I also consider USD Index. Will the index bounce back at the possible support?

snapshot
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