Loonie/USDCAD - First Short, Later Long

The USDCAD is in my opinion in a WXYXZ formation. There, the loonie is already in the X2 and should form a abcde correction. This is already in the final stages and should fall within the e at least 1.25 or lower, which is a very good move for a currency pair. At 1.20, the e and thus the X2 could find its end. Once this has taken place, a strong devaluation of the loonie should not surprise and advance to within the range of 1.60 in the next few years.

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greeting
Stefan Bode - Hanover, Lower Saxony

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