USDCAD Elliott Wave Analysis: Corrective Wave 4

usdcad-elliott-wave-analysis

USDCAD has turned bearish last weeek from around 1.1220 where we see signs of a completed wave (v) of 3 with an ending diagonal formation at the end of extended move that typicaly confirms a bearish reversal. As such, we suspect that pair is now going south or at least sideways in black wave 4.
USDCAD 4h Elliott Wave Analysis
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Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com