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USD/CAD: Last Push Upside?

USD/CAD: Last Push Upside?


The long term bullish price move could be set to continue after a running flat corrective pattern, which marked the 4th wave of the larger term 5th wave. Price could from the present price rise to 1.4000-1.4255. The reaction at this level will determine if the bullish trend is over.

Price should be contained above 1.2770 to maintain the bullish drive. A bridge below 1.2770 could mean that price has peaked at 1.3535 and the bearish move could fully resume.

The rally is favoured as price formed bullish candlestick set up at a critical support zone as indicated in the chart.

USD/CAD Daily Chart

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