usdcad ready to push up
As we see in the chart
The usdcad is at the end of the 5 bearish wave of the flat pattern
In flats, wave a is time consuming
Wave b has a deep correction
The c wave is sharp
We also see divergence at the end of waves 5 and 3
The dollar index is in the same situation
And oil with a correlation that has the Canadian dollar and oil is at its historic peak
Therefore, the weakening of the Canadian dollar is not unexpected
The usdcad is at the end of the 5 bearish wave of the flat pattern
In flats, wave a is time consuming
Wave b has a deep correction
The c wave is sharp
We also see divergence at the end of waves 5 and 3
The dollar index is in the same situation
And oil with a correlation that has the Canadian dollar and oil is at its historic peak
Therefore, the weakening of the Canadian dollar is not unexpected
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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.
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.