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USDCAD: BEARISH CONTINUATION

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
TradingSutra Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Wave Analysis Elliott Wave USDCAD usdcadshort usdcadanalysis usdcadsell usdcadforecast Forex forexsignals currencytrading
11
0
trendanalysis waveanalysis elliottwaves usdcad usdcadshort usdcadanalysis usdcadsell usdcadforecast forex forexsignals currencytrading
According to elliott wave rule , in an impulse wave 4 cannot intervene into the the territory of the wave 1 . The current structure shows that USDCAD is forming a wave 4 & is likely to end soon. One should go short on any rise keeping SL of 1.2595 & look for the target of 1.2285 and 1.20500 and below.
Trade closed: stop reached
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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