USDCAD- Triangle & Triangle = Bullish Opportunity

FX:USDCAD   U.S. Dollar / Canadian Dollar
159 0 7
From lows@1.2501 -it is blue wave A-B(Triangle)-C wave which could finish at an equality distance of A-wave@1.3540..

Within C-Wave             which is further tracing as Red Wave sequence A-B(Triangle) -C wave & we are in C-wave             (Red) within Blue C-Wave             . Likely, we are close to a thrust upside with very important support@1.3000

Red C-wave             also has equality distance in the zone 1.3490-1.3500 which will give resistance to upside move & likely later we shall start down leg.

Previous Update- Have been expecting 3rd wave but since it is taking so much time-this is an alternate view both calls for a bullish scenario with key & critical supports mentioned below.

Key Support@1.3048

Critical Support@1.3000

Trade active: 07:27 Hrs 5th Oct2016

first d-wave done from 1.3117 to 1.3215 Now falling in e-wave.

e-wave started as expected
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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