Category: Technical analysis methods

Expanding on our Canadian Dollar forecast: A-B-C versus W-X-Y

In our latest post at Trader Planet, we showed a near-term bearish but long-term bullish path for the Canadian Dollar as it emerges from a corrective pattern that has spanned eight years. Basically, we expect it to decline into a higher low, and then bounce. However, as is often the case with corrective patterns, it is difficult to be certain that the correction is truly finished. It could reach for a lower low instead.