Canadian Dollar Wave 4 Underway
Commentary: The first real rally attempt in over a month is taking place in the USDCAD. Remember that we are viewing the rally from the low as a correction, so price action could be choppy for the next few weeks.
Ultimately, we look for this large 4th wave to challenge the zone bounce by the 23.6%-38.2% Fibonacci levels of 1.1825-1.0548 at 1.0849/1.1036. We will look to align with the 5th lower at that point. However, there is certainly a chance to trade from the bull side until then. Support should be strong at 1.0606 but we are waiting until we see a tradable pattern before taking action.
Strategy: None
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Linear Mode
