Commentary: We are still waiting to see if the USDCAD completes 5 waves down from 1.0248. If the USDCAD drops below 1.0026, then the pair will have completed 5 waves lower from the top (1.0248). Under this scenario, we expect price to correctively rally back towards 1.0140. This would offer an opportunity to get aggressively bearish against 1.0248 for a much larger decline.
Strategy: Flat
