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USDCAD Elliott Wave Analysis: Wave 3 Near Top

USDCAD has moved to a new high as expected, into the final stages of blue wave (v) that may completed a black wave 3 around 1.1200 figure. At the same time we also see a signs of a bearish divergence on the RSI that usually occurs at late stages of extended structure so we must be aware of a reversal, but only temporary into another corrective phase.

USDCAD 4h Elliott Wave Analysis

Written by www.ew-forecast.com

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