In this video, we take a look at the decline in EURCAD since 8/24 peak which we think is taking the form of a double three (WXY) Elliott Wave structure. WXY is a 7 swing structure and we think pair is close to ending the 5th swing i.e,. wave ((w)) of Y and is in need of a bounce and another swing lower to complete the sequence and then we expect the buyers to appear to take prices to new highs or a larger 3 wave bounce at least as per Elliott wave hedging concept.
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