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From the daily perspective usdcad remains within an uptrend channel and as Elliot wave suggest we have complete the 5 wave sequence and a Top may be in place. Expecting from here market to correct the up move and expecting an ABC type correctionWave 1, 3 and 5 are motive waves and wave 2 and 4 are corrective waves. As it can been seen from the chart motive waves have a five-wave structure, while corrective waves have a three-wave structure or a variation thereof. This gives us confidence that th…
