Elliott Wave Analysis: USDCAD, Crude Oil and GOLD Sharp Movements!
USDCAD is on the move with a clear impulse down from 1.3429 level so a five-wave decline is what we expect towards 1.3150/1.3100 area in the upcoming sessions. But at the same time, we must look what oil will do here at 55.00-56.00 area.
As dollar breaks down, gold recovers, currently on the way to 1400 psychological mark after some important resistance were broken. We see metal coming out of triangle, so it’s wave 5 that already reached first important resistance but looks like more upside can be seen, as minor reversal down can be a sub-wave 4.
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