Good day traders! Today’s focus is on USD/CAD.
USD/CAD made a sharp fall recently, close to 1.2000 psychological level with an extended structure so we labeled leg down from Aug 31 high as sub-wave 3 of 5). We know that fifth wave has a motive structure so more weakness is expected after current recovery is completed. We are talking about black wave 4 that is trading near resistance of 1.2241 level.
USD/CAD 4H Chart
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