Cad is not done yet, we have the third touch coming on h4 trendline, even after a good $ run today we might see 1.1980 first before a trend reversal.
on the other side if the trendline breaks we have plenty of room up.
ok, so i want to explain why i think we had an impulsive wave down which might be the first wave of a next impulsive 5 waves as a correction.
earlier today we break a previous support even by a few pips but it got violated, it looks like the price action got 5 minor waves on a small scale.
it got corrected by the end of the day in 3 waves which looks like an...