USDCAD Remains Bullish: Elliott Wave Forecast

USDCAD 4h Elliott Wave Analysis
USDCAD moved to a new high last week after an impulsive rally and break out of a triangle. We see pair now in continuation mode, moving up in wave 5 that should be made by five waves. Our target on a daily chart is around 1.1400 so we see room for more upside. Therefore we think that current retracement from latest high is just a temporary short-term reversal; a correction as part of ongoing uptrend. With that in mind, we expect a move up to resume in this week, ideally from around 1.1150/70 area where former swing highs may turn into a support. Trend

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Technical forecast for USD/JPY

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Technical forecast for USD/JPY

USDJPY has sold off over night to 98.43 but we have recovered above support at 98.76/70. The outlook is quite negative with resistance at 99.15 but above here