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Elliott Wave Analysis: USDCAD And USDNOK Searching For A Reversal

Elliott Wave Financial Service
By Elliott Wave Financial Service

The two pairs, that favor USD weakness are USDCAD and USDNOK, where we see both at the end of a corrective rally. They might have already reached a top, but we still want to see more weakness before we may confirm a bearish trend. USDCAD would have to see a fall below channel support line and through 1.2400, while USDNOK needs to get below 7.9299 region.

USDCAD, 1H

USDNOK, 4H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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