Elliott Wave Analysis: USD/CAD Looking Higher; Intraday Uptrend Still Seems Incompleted

Elliott Wave Analysis: USD/CAD Looking Higher; Intraday Uptrend Still Seems Incompleted

24 May 2016, 17:31
Roberto Jacobs
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Elliott Wave Analysis: USD/CAD Looking Higher; Intraday Uptrend Still Seems Incompleted

USD/CAD is still on the upside move after a few minor corrections. Current pullback we see as a flat formation pattern with support seen around 1.3098 levels from where we could continue to go higher and complete the black wave 3 around 1.2340 levels. So advance is still incomplete since we don't yet have a clear five wave move, meaning  we stay bullish on this pair until a five wave sequence is visible.

USDCAD, 1H

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