USDCAD Rockets off of Lows
240 Minute Bars
Prepared by Jamie Saettele, CMT
The pop above 10278 leaves the USDCAD decline as a 3 wave (corrective affair). Like everything else, some sideways trading towards USD weakness is probably in store for the next few days. In fact, we can’t completely dismiss lower levels (below 10158) until the advance from 10158 unfolds as an impulse. The count from the top does make sense though, which all we can go on for now. I prefer to allow the market to tip its hand (complete 5 up or don’t) before doing anything.
LEVELS: 10175 10230 10265 10300 10350 10385
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