USDCAD: Ending Diagonal Indicates A Reversal; Break Above 1.27 May Put Bulls In Play


On USDCAD price is still very low, but pair shows all needed sub-waves in place for a valid formation of an ending diagonal. That’s a very powerful reversal pattern that may cause a strong bounce this week. If we will get a nice bounce back to 1.2695 then we may consider long idea later this month.

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.