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Hello traders,
USDCAD shows a double zig-zag in play, which is currently entering the final phase of this fix. The reason for this count is a deep recent dip on the lower support of the trend line, which actually caused a good rebound, so this new high seems to be at stake. Ideally, it's an impulsive wave. who can target 1.3550 / 1.3600 for a possible high.
The most interesting part of this calculation is also that, if everything goes as planned, a nice and clear bearish decomposition could follow, which could take the price well below the 1.327 level. The first evidence that a top and a bearish continuation are there would be a sharp, impulsive (non-overlapping) fall.
USDCAD, 4h
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