Technical analysis

USDCAD Wave Analysis – 21 November, 2019

USDCAD Wave Analysis – 21 November, 2019
  • UPS falling inside impulse wave C
  • Likely to fall to 1.3300

UPS continues to fall inside the sharp impulse wave C of the short-term ABC correction (ii) from the start of November.

Wave (ii) started earlier from the combined resistance area lying between the resistance level 124.00 (top of wave 1 from September) and the upper daily Bollinger Band.

UPS is expected to fall further toward the next support level 116.00 (forecast price for the completion of the active ABC correction 2).

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