USDCAD 2018 Outlook
As the USDCAD broke out of it's 1.05-1.10 ceiling back from 2013 we've been in a bullish market for this pair. Upon this break the market begin it's 2 year bull run from January 2014 breakout to it's all time high January 2016 of 1.4690
The USDCAD then begin to correct May of 2016 by first pulling back to it's 50% Fibonnaci retracement of 1.3030 from the 1.0620 to high of 1.4690.
Prices then gracefully followed the Ellitot Wave patterns for just over 2 years completing the 4th wave around June of this year.
We are expecting the USDCAD to create it's 5th wave before 2018 closes out. Proceeding into the first quarter of 2019 we could see bullish US market figures. Coupled with rate hikes by the FED we could see USD rallies out of the 2 year correction and pushing new highs.
The USDCAD then begin to correct May of 2016 by first pulling back to it's 50% Fibonnaci retracement of 1.3030 from the 1.0620 to high of 1.4690.
Prices then gracefully followed the Ellitot Wave patterns for just over 2 years completing the 4th wave around June of this year.
We are expecting the USDCAD to create it's 5th wave before 2018 closes out. Proceeding into the first quarter of 2019 we could see bullish US market figures. Coupled with rate hikes by the FED we could see USD rallies out of the 2 year correction and pushing new highs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.