MAIN VIEW (Green)
USDCAD appears to be in a triple three wave pattern, with the most likely wave count being a triple zigzag. Wave X', the 2nd connecting 3-wave, ended @ 1.03338 and the wave Z is expected to end near 1.048. Momentum indicators appear to confirm with this count.
Buy USDCAD @ market (1.03772) with a stop @ 1.03338 (0.42% loss) and targeting 1.048 (0.99% gain). Risk/Reward = 2.36.
ALTERNATE VIEW (black)
The final wave (NASDAQ:Z) may be a flat rather than a zigzag. With wave (a) completing around 1.04232 and USDCAD will decline to complete wave (b) near 1.0337. Momentum indicators have not confirmed this move as yet.
Short USDCAD @ 1.04232 with a stop @ 1.045 (0.26% loss) and targeting 1.0337 (0.84% gain). Risk/reward = 3.23.