USD/CAD will drop 208 pips this week.
Technicals:
* We have completed a five wave impulse.
* We are at the previous resistance high that held strong many times.
* All indicators are over bought.
* I used a confluence of three retracements off of the major swing lows and found confluence at the .382% which makes sense to me since we are starting a longer term bull market.
Fundamentals:
* The USD is projected to be stronger this year.
* The USDX has finished its retracement and will be going up for a long term impulse.
* We have completed a five wave impulse.
* We are at the previous resistance high that held strong many times.
* All indicators are over bought.
* I used a confluence of three retracements off of the major swing lows and found confluence at the .382% which makes sense to me since we are starting a longer term bull market.
Fundamentals:
* The USD is projected to be stronger this year.
* The USDX has finished its retracement and will be going up for a long term impulse.
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