USD/CAD was trading bearish through May 2017 and through September. We can see that a five-wave impulse had unfolded on the daily time frame and later found a low at the 1.2058 level. From there a new bullish movement followed, which we labeled it as wave A, first wave of a three-wave recovery which means more gains is expected to occur after current wave B is finished, which can look for a base around 1.2600 and also complete a bullish H&S pattern.
For more detailed analysis on USD/CAD, checkour VIDEO analysis below, where we also take a look at AUD/JPY, NIKKEI225 and Crude oil.
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