Commentary: The USDCAD has finally turned higher. The short term pattern is the exact same as the EURUSD and GBPUSD (but the inverse of course). That is, a small 4th wave correction is unfolding now and once 5 waves up are completed, we expect a deeper correction (lower).
This would allow bulls to get aggressive. Given the extreme sentiment extreme in place, this reversal may prove to be the most vicious of all.
Strategy: Flat