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USDCAD Pullback Would Offer Long Opportunity

USDCAD Pullback Would Offer Long Opportunity

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Pullback Would Offer Long Opportunity

Prepared by Jamie Saettele, CMT

The USDCAD 5 wave rally gives scope to weakness back towards 9905/25 before another bull leg. As more information (price date) is revealed, it seems more and more likely that the late April decline was a false break. There will surely be stubborn traders out there that hold on to shorts, which should fuel the move higher in the coming weeks.

Ideas: long on weakness into 9905/25

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