USD/CAD Elliott Wave Analysis
As a result of Wednesday's trading day the USD/CAD pair has finished the 3 wave (coloured pink) structure of the bigger A wave (coloured blue). During the London sessions we could observe the ascending movement to the 200EMA resistance line at 0.9945 level.Therefore during the early New York session this major broker 200EMA resistance and reached 0.9973 level. We can consider this level as subway 3 of bigger 3 wave.The USD/CAD pair did not manage to hold this level at the end of session we could observe the price reaching 0.9960. End of the final 5 wave of the bigger 3 wave was today during the Asian market when price retest yesterday high. Presently we can observe the end of 4 wave (coloured pink). In accordance with our wave rules and taking into account that the wave 5 is equal to wave 1, the First Take Profit should be at 0.9981 (78.6%% of wave 1) and Second Take Profit - at 0.9990 (100% of wave 1). For Stop Loss we can use the 0.9945 resistance level. Also it is necessary to consider the data concerning the CAD Building Permits m/m,Employment Change,Unemployment Rate,Ivey PMI and USD Unemployment Claims that can affect the rate of the pair.affect the rate of the pair.

Support and Resistance levels
(S3) 0.9874 (S2) 0.9901 (S1) 0.9918 (PP) 0.9945 (R1) 0.9972 (R2) 0.9989 (R3) 1.0016

Trading Forecast
Proceeding from Elliott Wave Rules, today the trend is expected to begin the upward movement. That is why long positions at level 0.9950 with the Stop Loss at 0.9945,Take Profit 1 at 0.9981 and Take Profit 2 at 0.9990 are recommended.