Canadian Dollar Basing

Commentary: The USDCAD continues to drop below every measured objective for the end of large larger wave 3. Still, the next few weeks should see the USDCAD consolidate / pullback towards 1.0849/1.1036 (23.6% - 38.2% of 1.1825-1.0548) in wave 4 before wave 5 drops to a new low.

We?ll watch the form of the correction that unfolds so that we can align with wave 5 lower. As soon as we see impulsive upside action, we?ll commentate on short term bullish opportunities. Strategy: None