 | |  | | Short term downside moving has not completed yet.
However, it's likely to see that the pair moves toward 1.2250/1.2300 territory first, then falls again toward 1.1670 -- 1.1870.
If you have short position of this pair (= buy CAD, sell USD), stopping loss at next dip (falling toward 1.1670 - 1.1870) could be a better choice. Though, correction from 1.3015 has not finished yet .
(from high 1.3015 to now, is likely to develop wave A of the correction, following the end of wave A, there is price upside reaction likely toward 1.2550 -- 1.2850, then falling again to develop wave C).
Outlook of mid term ----- still bullish ! |  |  |  |  |
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