USDCAD - BUY IDEA

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Dolar A.S. / Dolar Kanada (FX:USDCAD)

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FX:USDCAD Dolar A.S. / Dolar Kanada

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Turning our attention to the USD/CAD pair, the Elliott Wave Principle is hinting at a promising opportunity for a bullish trend. According to my analysis, we've just witnessed the completion of Wave (4), and the setup looks ripe for Wave (5) to take the lead. This final wave could surge towards the 1.618 Fibonacci extension level at 1.39893, a compelling target for those considering a long position. The break above the descending trend line that capped the previous corrective waves adds to the potential for an upward trajectory. Keep an eye out for this key breakout, as it could signal the start of the bullish wave we've been anticipating. Remember, the market can be fickle, so while the Elliott Wave setup is enticing, it's always prudent to employ sound risk management and prepare for any scenario

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