USDCAD found a
support around 1.02560 last week, from where the first reaction appears to be
in impulsive fashion through the upper trend-line of a corrective channel. We
know that impulses show direction of a trend or change in trend. As such, we
are looking higher now, and it’s also because of a previous three wave decline
from above 1.0600 which was a corrective move, so larger trend remains up and
is now in continuation mode. Current wave 2/B could be looking for a support
around 1.0300-1.0330. Invalidation point for bullish outlook is at 1.0243.
If you are interested in our
analysis then you can try us absolutely FREE FOR 7
DAYS!
No comments:
Post a Comment