Elliott Wave Analysis: USDCAD Trading Into Final Wave

Long

U.S. Dollar / Canadian Dollar (FX:USDCAD)

FX:USDCAD U.S. Dollar / Canadian Dollar

usdcad elliottwaves correction impulsive

USDCAD is moving nicely higher since April 12 where pair showed us signs of a bottom because of an impulsive turn into wave 1. So we were bullish on USDCAD, but these move can be coming to an end now because of price advance into a fifth wave; final leg of an impulsive structure. Also, we see pair at upper resistance line of an EW channel which can represent first resistance near 1.3580, while next one is seen near 1.3680.

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