Canadian dollar weekly chart really does look good and ripe to start a wave 3. The .618 retrace would be around the 8770 as wave 2's usually travel too. The second scenario is we could be unfolding in c wave of a triangle and that would cause for a push down to the 84.50-85 level per futures.
Some interesting side notes:
-Commercials are at an extreme bullish here so this could very well bounce.
- small specs are at a weekly extreme net short
-86.00 level is the prior wave 4
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