The Canadian Dollar is on the back foot due to Trump’s tariffs and worsening relations. How low can it go? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch discusses USD/CAD technical outlook and flags an impulsive bullish setup suggest further USD/CAD rallies. “Looking back over the medium term, five waves higher during 2011-2016 and 3 corrective waves lower to the 2017 low (abc) is complete. Now a new set of five waves higher is underway. We see the current uptrend in wave (III), having already completed wave (I) and (II) from Sept-17 to Feb-18. USD/CAD is in the impulsive part of an uptrend where technicals expect a strong rally. This part of the impulsive trend is known as the “3 of III” and Fibonacci estimates two targets of 1.3433 and 1.3634,” BofAML argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next US: Existing home sales print 0.4% for May – Nomura FX Street 3 years The Canadian Dollar is on the back foot due to Trump's tariffs and worsening relations. How low can it go? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch discusses USD/CAD technical outlook and flags an impulsive bullish setup suggest further USD/CAD rallies. "Looking back over the medium term, five waves higher during 2011-2016 and 3 corrective waves lower to the 2017 low (abc) is complete. Now a new set of five waves higher is underway. We see the current uptrend in wave (III), having already completed wave (I) and (II) from Sept-17 to Feb-18. USD/CAD is… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
