USDCAD Weekly
The Elliott Wave Count I am showing on the weekly chart is looking like a Leading or Ending Diagonal. I do not have enough data to know for sure but I am going with the Ending Diagonal Version. A break above the 2002 High of 1.5980 could make this a C wave of a larger degree B wave. If that is the case I would except a move back down toward the .9000 mark over the coming years.
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| #USDCAD Weekly ElliottWave Count |
USDCAD Daily Elliott Wave Count
From the wave (4) low near 1.20600, the USDCAD Daily Elliott Wave Count is showing an abc up for A followed by a Double Combo WXY down for B. The (c) wave of y looks to be ending in and Ending Diagonal Formation. A break above the 1.3145 would signal the end of this Ending Diagonal and possibly the start of the larger degree C wave up toward that 2002 high at 1.5980.
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| USDCAD Daily Elliott Wave Count |
The 4 HR USDCAD Elliott Wave Count is showing the abc down for y of B. The C wave looks to be playing out as an Ending Diagonal but the pair needs to break above the 1.3145 before we can have any confidence that the Ending Diagonal is complete. It is very possible the spike up today is still part of the wave iv of the End Diagonal and we will see another low yet before higher.
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