Canadian Dollar Elliott Channel Failing-Supported at Recent Pivot
Prepared by Jamie Saettele, CMT
The USDCAD has dropped below Elliott channel support but the 4th wave interpretation is favored as long as price is above the wave 1 high of 10008. The former 4th wave of one less degree at 10142 has been tested and ideally holds if the larger trend is up.
Trend Strength (M,W,D) – 1, 1, 0
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