USDCAD Elliott Wave Analysis

USDCAD Elliott Wave Analysis

USDCAD turned sharply higher on Friday from 1.0952 where we see completed wave (c) that is part of incomplete triangle as already highlighted in our past updates. A triangle is a five wave pattern so we suspect that current leg up is wave (d) which means we still need wave (e) retracement before we may look for end of a corrective price action. Ideally pair will find resistance in the next 24 hours around 1.1150 area.