#USDCAD expecting wave 3 of 5

Jul 18

As can be seen, the price appears to be completing the first and second waves of wave 5. If we see a bullish breakout of our buy setup, we can assume that the 3rd wave is on its way. As a result, after that, any bearish retracement is a buying opportunity.

This analysis is triggered once the price breaks above the previous high.

Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.

Jul 19

Trade closed: target reached

This analysis has reached it target and we are out of this position by catching wave 3 of five.

Now we are looking at oil as I posted yesterday since its forming a good opportunity to trade.