Elliott Wave Training

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Sunday, November 30, 2014

Elliott Wave Analysis of USDCAD (Short term)

Short term patterns suggest USDCAD can see a bit more upside and make new yearly highs.

From 1.1181 Its working a 5 wave impulse wave, furthermore I suspect its ended (or close to ending) wave [iii], so a pullback that holds above 1.1317 should setup for a move higher and target new highs.

Trade idea: Readers can look to buy a pullback around 1.1360-380. stops needs to be placed at 1.1317

Take profits at 1.1470 or above.