By Gregor Horvat
USDCAD was trading bearish through May 2017 and through September. We can see that a five-wave impulse had unfolded and found a base at the 1.2058 level.
From there a new bullish movement followed, which we labeled it as wave A, first wave of a three-wave recovery which means more gains is expected to occur after current wave B is finished, which can look for a base around 1.2600 and also complete a bullish H&S pattern.
See full article qbs analysis here: https://www.fxexplained.co.uk/forex-articles/technical-analysis/usdcad-looking-new-bounce-higher-1-26-region-can-offer-support/