Market Snapshots

USDCAD Wave Analysis – 21 November, 2019

USDCAD Wave Analysis – 21 November, 2019
  • USDCAD broke resistance trendline
  • Likely to rise to 1.3300

USDCAD recently broke though the resistance trendline from the end of May – which accelerated the active impulse wave C of the ABC correction 2.

The active wave 2 is a part of the longer-term downward impulse sequence (3) from May.

USDCAD is expected to rise further toward the next strong resistance level 1.3300 (which has been reversing the price from August, target price for the completion of the active ABC correction 2).

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