Commodity currencies are strong, but still not bullish on the bigger trend. All we see are deep corrections, and the one on USDCAD can already be in the late stages. We are looking at wave (c) now that can make another low at 1.1180 or even 1.1100. But, we suspect that sooner or later the pair will find support and send the price up, into a new bullish impulse. USDCAD 1h Elliott Wave Analysis
The Swiss franc is showing a bearish wave structure against the USD. We are now looking at wave 4 that can make a pullback even back to 0.9660, where we see the former wave four and the 38.2% Fibonacci retracement level. Once those levels are seen we will look up for wave 5 towards 0.9760/0.9800.
USDCHF 1h Elliott Wave Analysis
