USDCAD Is Heading Lower To Complete A Five-Wave Sequence

The decline from 1.2654 high is taking the shape of a five-wave impulse pattern. The price seems to be in wave iv of the sequence and the corrective wave iv unfolded as a triangle.

According to Elliott Wave theory, a triangle usually precedes the last swing of a sequence. If this count is correct, the price should extend lower to complete wave v of the impulse.

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