Two reasons to consider the USDCAD in downtrend.
Two reasons to consider the USDCAD in downtrend.
1. This is last wave ( Elliot Wave 5) of Basic Motive Phase.
2. Then here begin a first wave ( Elliot Wave A) of Corrective Phase.
3. This is second wave ( Elliot Wave B) of Corrective Phase.
Note: This wave have inside two Elliot Wave .
a) Bull Market Truncation (Red Color and Completed)
b) Elliot Wave Basic (Blue Color and not Completed)
4. This is corrective wave ( Elliot Wave B) of Corrective Phase.
Note: This corrective wave has already started, missing the wave B (Uptrend) and C (Downtrend).
This is the SECOND reason to consider that the price will be BEARISH .
5. This is last wave ( Elliot Wave C) of Corrective Phase.
This is the FIRST reason to consider that the price will be BEARISH .
1. This is last wave ( Elliot Wave 5) of Basic Motive Phase.
2. Then here begin a first wave ( Elliot Wave A) of Corrective Phase.
3. This is second wave ( Elliot Wave B) of Corrective Phase.
Note: This wave have inside two Elliot Wave .
a) Bull Market Truncation (Red Color and Completed)
b) Elliot Wave Basic (Blue Color and not Completed)
4. This is corrective wave ( Elliot Wave B) of Corrective Phase.
Note: This corrective wave has already started, missing the wave B (Uptrend) and C (Downtrend).
This is the SECOND reason to consider that the price will be BEARISH .
5. This is last wave ( Elliot Wave C) of Corrective Phase.
This is the FIRST reason to consider that the price will be BEARISH .
Good luck !