Market Snapshots

USDCAD Wave Analysis 9 October, 2020

USDCAD Wave Analysis 9 October, 2020

• USDCAD falling inside impulse wave C

• Likely to reach 1.3100

USDCAD continues to fall inside the short-term impulse wave C of the intermediate ABC correction (2) from the end of September.

The active impulse wave C started earlier from the lower trendline of the recently broken up channel from September, which is acting as resistance after it was broken.

USDCAD is likely to fall further toward the next support level 1.3100 (target price for the completion of the active ABC correction (2)).

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