Canadian Dollar Bull Trend (USDCAD Bearish) Back Underway

Commentary: The USDCAD decline appears to be back underway as there are 5 waves down from 1.0733. The previous 4th wave is at 1.0665 and a small second wave could spike towards there before the decline comes under 1.0548.

This is from yesterday. “We are expecting wave 4 to end this week (may already be complete). Price is approaching potential channel resistance, which is just below 1.0800. We are looking for this correction to continue towards channel resistance before a 5th wave decline brings the USDCAD below 1.0548.” See yesterday?s chart for the longer term chart.

Strategy: None