AndyM
Long

CAD preparing to bounce together with Crude reversal.

FX:USDCAD   U.S. Dollar / Canadian Dollar
94 0 7
Hi All,
CAD is probably running a three-wave downmove which is supposed to complete within the next couple of days. Despite it's relatively high momentum the movement is still a three, not a five. It we see a good impulsive bounce up once it's complete, it will be a good opportunity for a buy, as we may well reach 1.38 in the next 6 weeks.
(a long-term labelling to follow in the next chart).
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