The trend is bearish in USD/CAD currency pair, 15 minutes time frame. The market is falling down on a short-term basis after completing a Bullish 1,2,3,4 and 5 Impulse Elliott wave pattern and traders should look for a short trade. So, all those Forex traders who have followed my Elliott wave analysis have made the right decision as the price has descended. Strong key resistance level is present at 1.3769 price level.
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In my judgment, price action in USD/CAD currency pair is now going to fall down towards 1.3645 price level to print a possible bearish impulse Elliott wave pattern, in the coming trading hours.
Currently; bullish Impulse wave pattern looks complete. So, wait for the market to first break down the green color support level at wave iv termination point and then look for a possible sell trading chance to join the down trend. However; if the price of USD/CAD currency pair breaks above 1.3769 critical resistance level then I might like to stay out of the market and re-examine the fifteen minutes chart of USD/CAD currency pair.
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