This pair is still bullish. My previous thought of a further low or two is not the likeliest correction. Within Elliott Wave it could be forming a triangle here, with no low break, signalling a move up for the larger C wave towards 1.50x. Yesterday's daily candle is a good indication for a base being set up. If this triangle is to work out, we need to see c, d and e gyrations, no new low, and a strong move up, probably around Friday's CAD news.
Note
The idea is dead. Long live the idea.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.