[B]Commentary:[/B] The reversal with long term bullish implications is underway as there are 5 waves up from the 1.0470 low.
“The decline under 1.0548 satisfies minimum expectations. Since the USDCAD is in a 5th wave, we do not see this as a breakout opportunity. We are showing the weekly chart with the long term outlook (2 to 3 years).” A second wave is either close to complete near current price or will end closer to the 61.8% of 1.0470-1.0656 at 1.0541.
[B]Strategy:[/B] Bullish, against 1.0470, target TBD