I can see strength in CAD for next week, a number of our traders have already entered a short on this beautiful pair.
Breakdown -
We are riding out the final move which is wave C down to the 50% mark of the whole Elliott wave cycle. As you can tell from the forecast we usually enter the trade upon breakouts however we spotted a resisence zone which seems to have applied pressure for the sells to kick in.
Confidence -
Our confidence is high due to the forecast seen on CADJPY and WTI that will be posted in the next few moments.
Breakdown -
We are riding out the final move which is wave C down to the 50% mark of the whole Elliott wave cycle. As you can tell from the forecast we usually enter the trade upon breakouts however we spotted a resisence zone which seems to have applied pressure for the sells to kick in.
Confidence -
Our confidence is high due to the forecast seen on CADJPY and WTI that will be posted in the next few moments.
Comment:
Take profit hit