Temporary Recovery On USDCAD Points Lower
Gregor Horvat of Elliott Wave Financial Service - InsideFutures.com - Thu Jul 12, 3:33AM CDT

USDCAD made a five-wave drop from the highs which in Elliott wave theory suggests the direction of the trend. We see pair going lower, but after a three-wave upcoming rally fully shows up. At the moment we see price recovering, unfolding a three-wave contra-trend reaction which can look for resistance and a turn lower around the 1.3224 level and near the Fibonacci ratio of 50.0 or 61.8.
A later drop in impulsive fashion would confirm more weakness.

USDCAD, 4h

usdcad, 4h

Check our website at https://ew-forecast.com/. Also we have a SPECIAL OFFER 14Days for price of 1euro!