Canadian Dollar Daily Chart Review

Even though Canada is going into a recession, the CAD is moving like it’s over already.   I made a few changes in the count down but I know they are diagonal wave structures.

In the end, I don’t think the CAD bear market is finished until a 4th wave rally has been completely retraced. We will find out if the top trend line will hold and we may even be in a “C” wave of a triangle.  If so we need two more zigzags to play out.

The scary part is that these 4th waves can also blast up taking us to wave 2. That scenario is not on my wishlist but with this crazy market, “Crazy” seems to be the new normal.

Social media has turned against our prime minister and no amount of bull shit “Tweets” will bring him back. If Canadians vote Justin Trudeau back again, it will surprise me to no end.

Besides the elections, we have solar cycle 24 still to contend with by the 2020 time frame.

 

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