The Canadian dollar finished Tuesday’s projected reversal/reaction day (projected by using the reverse count form July 9 back to the low on June 24, with the forward count beginning on July 20.) with an “inside day” price bar. An “inside day”, on a reversal/reaction day, is considered a continuation pattern. Wednesday’s price action is also suggesting a continuation of the upward trend. With that cycle completed, I moved to the new reaction swing that formed between July 26 and July 28. The new swing pattern provides the necessary information to make the next time and price projection for the Canadian dollar…and it suggests there is still room to run.
John Crane
