Elliott Wave Analysis: USDCAD and Crude Oil Can Face A Turn!

Hello traders!

USDCAD is still consolidating within a triangle pattern of a wave iv, so sooner or later we may see new lows for a wave v towards 1.3100 level, especially if we consider a bullish looking Crude oil that can also be approaching the 5th wave soon. We should be very careful at this stage, so let us keep watching and waiting for a potential reversal.

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usdcad, intra

Crude oil, 1h

oil, intra