USD/CAD ready to take a bullish turn – EW-Forecast

FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, believes that USD/CAD recovery is complete and the pair might now resume its bullish tone.

Key Quotes

“USDCAD has been trading lower in the last couple of weeks but this can be changing now as decline from 1.2833 is counted in three waves, possibly a complete corrective set-back after recent strong impulsive recovery from 1.2386.”

“As such, we expect more gains in sessions ahead, especially after wave 2 that could show up in the next 24-48 trading hours.”