The New State of Usdcad ~ forex robot trader reviews ea
I have maintained a very bullish bias of Usdcad and price has not given me any reason to think otherwise.
The last forecast I posted on this pair on 14th November about a double zigzag complex correction gave me some nice 140pips, though I aimed more.
Price closed the second part of that trade at 80pips. Not bad for a corrective trade.
This market is amassing momemtum to fly high.
Going by the long term, weekly chart, price is in wave 5 of an impulsive move which has the ability to soar to 1.1850 (100% of wave 1- equality ratio) or 1.2700 ( 1.618% of wave 1).
Going by the 4 hour chart, the recent downside correction could be the wave 2 of the expected impulsive wave 5 to complete the last motive wave before we look for a bearish move properly.
The intraday chart figured a flag pattern consolidation, which if broken upside should support the bullish bias.
If flag is broken upside, I will see you in 1.1850.
I will update you as price reveal its movement.
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