USDCAD could be in an uptrend for the next couple of weeks/month
The long term Elliot wave pattern suggest that USDCAD may still have one more final move to the upside, as wave 5 unfolds. This can be seen with the breaking of the downtrend channel from 2016.
Usually the target of wave 5 will rise above the end of wave 3, if not, the same level.
Thus, USDCAD could be finding its way up to 1.46-1.47 handle for 2H18.
Usually the target of wave 5 will rise above the end of wave 3, if not, the same level.
Thus, USDCAD could be finding its way up to 1.46-1.47 handle for 2H18.