USD/CAD Analysis


Let’s take a look at the USD/CAD hourly chart.

It seems like the low from late April/early May is holding up and we’re currently looking at a 3 wave correction.

We saw a move up, followed by a move down, and now we’re starting to move back up. Look for the bullish trend to potentially continue to the .9800 area.

We may see a little more retracement down before the move back up so watch for that.

Good luck with trading and have a great weekend.

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