Saturday, 23 April 2016

USD/CAD daily & monthly charts, headed lower after ST upwards correction?

Daily chart. 5 waves down look complete or nearly so, with wave 5 taking the shape of an ending diagonal. When complete, that would call for an upwards correction, likely for several weeks.

Monthly chart. Lower in coming months is how it looks. 1.30 should prove strong resistance for any ST/MT upwards correction.

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