Hello traders,
After spikes on JPY, GBP and AUD, there's not many clear patterns, but we found an interesting one on CAD crosses. As you know we were tracking a corrective rise on EUR/CAD, which seems to be finished since we have seen sharp and impulsive five-wave decline away from 61,8% Fibo. level and projected 1.56 resistance area. That said, we are looking for more weakness while it's trading beneath 1.5640 highs, but only if we get slow three waves of recovery back to 1.55 resistance area.
