Error message

Deprecated function: Creation of dynamic property MergeQuery::$condition is deprecated in MergeQuery->__construct() (line 1357 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).

USD/CAD: Correction Appears Complete, New Highs In View

Sameer Kapoor 5 June 2013

The USD/CAD is currently reversing higher again, after only three legs down to 1.0260 area where we see evidencs of a completed corrective pull-back, lableled as A-B-C. This is called a zig-zag. Notice that the rally from 1.0260 is sharp, and is now already testing the upper trend-line of a corrective channel. There is a break here is in view, that could lift the pair up to 1.0500.

What is a zig-zag? This Is a corrective pattern labeled with letters that moves against the larger trend. It is a 3-wave structure labeled A-B-C, generally moving counter to the larger trend. It is one of the most common corrective Elliott patterns.

Forex Analysis by Gregor Horvat at ForexPros. com