Commentary:? We have stayed away from picking a bottom? in the USDCAD and for good reason.? The wave structure was simply not complete.? But, we are getting very close.? One more low (below .9784) may complete the decline from 1.0866.?
If wave 5 is to equal wave 1, then the USDCAD decline is likely end near .9680.? A small 5 wave advance followed by a 3 wave setback will turn us bullish for the large recovery.? Watch the weekly and monthly pivot calculated pivot supports for possible reversal points (table on page 1)