10m 38s: Lenght

DailyFX Head Trading Instructor Jeremy Wagner shares 2 possible scenarios using Elliott Wave analysis for the USDCAD. The news from this morning from the Bank of Canada surprising the market with a 25 basis point rate cut jolted the USD/CAD higher. If prices break above today's high, then that would continue the bullish argument. If prices are unable to hold 1.2270, then the subsequent bearish reversal may call an end to a blow off top. With the CAD being a commodity currency and correlated to Oil, check out this recent Elliott Wave analysis for Oil: https://www.youtube.com/watch?v=bNRseVynf6I&list=UUeqApskAUurShxi94GDXzaw