USD/CAD - Top expected in the 1.4249 - 1.4277 area

USD/CAD - Top expected in the 1.4249 - 1.4277 area

USD/CAD has been in a relentless rally higher since the 0.9634 low in mid-September 2012, but it finally seems that a wave 3 is coming to an end in the 1.4249 - 1.4277 area. This area represents a cluster of resistance which is expected to mark the termination of wave 3 and set the stage for a larger correction in wave 4 wave towards 1.3458.

Short term, I will be looking for a test of the 1.4249 - 1.4277 area and expect a top within this area, for a break below support at 1.4048 that confirms the top is in place and a larger correction is unfolding towards 1.3458.  

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Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Roelant
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Tommy
2015-02-26
Great call on nat gas

Just wanted to drop you a note to say great call on nat gas as it held 2.67

Great job.

Tommy