USDCAD has three legs down within a parallel trendline followed by a recent move out of downward channel which means USDCAD is likely to retest 1.0990 level, and then 1.1 psychological level.
More Articles From Elliott Wave Analysis Service
EURUSD Elliott Wave Analysis: Two Scenarios, Both Bearish
GOLD Elliott Wave Analysis: Looking Towards $1260
Elliott Wave Analysis: USDJPY Intraday
Elliott Wave Analysis: GBPUSD More Bearish
Elliott Wave Analysis: EURJPY Looks Bearish Againts 143.15
USDJPY could be very interesting pair for long set-up in the next one or two trading days. Notice that we are tracking a contratrend price action from 105.00 where we labeled end of wave 1 so current pullback should be then a corrective wave 2. We are observing idea of an (a)-(b)-(c) in progress that may stop either at 104.07 or 103.75 support.
Written by www.ew-forecast.com
14 days trial just for €1 >> go here