Elliott Wave Analysis: More Near-Term Upside For USD/CAD And Oil

Canadian dollar may see more upside especially if we consider possible higher prices on crude oil that we see is now trading in wave B). Ideally, support comes in at 52.60.

Crude Oil, 1 Hour

USD/CAD stays in a downtrend, now looking for a break into wave v) of three towards 1.3200 area.

USD/CAD , 1 Hour

Once this five-wave drop may fully unfold, a three-wave rise may follow.

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