The USD/CAD is trading nicely higher since start of the week with impulsive personality. We see prices moving up in wave 3 of a larger degree that should be made by five smaller waves. At the moment we see only three legs up from 1.0410 but it seems that fourth wave is already unfolding, which represents only a minor retracement within ongoing uptrend. We expect to see a test of 1.0635 and then a new reversal up, then in wave (v) of 3 towards 1.0750.
USD/CAD 4-Hour Elliott Wave Analysis
USD/CAD 4 Hour Chart" title="USD/CAD 4 Hour Chart" width="600" height="588">