AndyM
Long

USDCAD - 1.3250 target for next wave 5

FX:USDCAD   U.S. Dollar/Canadian Dollar
There is a strong correlation between CAD and Crude, which means that as Crude is preparing for another massive decline, so as CAD starting to weaken again agains USD, ( USDCAD             shooring higher).
I expect the next stop to be at roughly 1.3250 (0.618 of the net run of wave 1-2-3), and I think there is a good opportunity to enter long position once the correction in wave 2 is over.
unbreakable8056
2 years ago
agree, it also happens to be right at a double top smaller time frame which suggests end right around 121.600. This also is the 61% retracement of the recent leg up from 5-14
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AndyM PRO unbreakable8056
2 years ago
121.600 - is this JPY you are talking about?
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