[B]Commentary:[/B] The short term pattern is unclear so we continue to focus on the longer term potential for a bottom. “The reversal that we have been expecting may be underway but we would like to see a clear 5 wave advance to signal the turn and instill confidence in the upside. Coming under 1.0442 could see a test of the long term support line, near 1.0385 this week. We are showing the weekly chart with the wave count to illustrate why the USDCAD is close to putting in a significant low.”
[B]Strategy:[/B] Flat