yatinsardana

yatinsardana Updated 

Been waiting for USDCAD to make the long awaited impulse down for a long time but it keeps teasing you before going up. I feel it's at present in a corrective structure that will end in making one more impulse up, possibly up to 0.618 retracement from the big impulse down between jan and may 2016. Within this corrective structure, it could be a 3 wave or a 5...

yatinsardana

Its hard to say what it's going to do, I have to say the structure suggests we might get one more wave up for the moment.

yatinsardana

Possibly making an ABC corrective regular flat, I expect the next impulse up once it breaks the horizontal line. Very very short term next few hours, more downside.

yatinsardana

On the weekly chart, it looks like we are currently in the correction after impulse number 3. I think if we break out to the downside, we can have a 5th impulse. Possibly the correction right now is showing a contracting triangle.