Weekly Elliottwave $EUR/CAD 5/10/2015: Multi-Year Decline

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Euro / Dólar Canadense (FX_IDC:EURCAD)

FX_IDC:EURCAD Euro / Dólar Canadense

Decline from 2.0096 is taking the form of a double corrective structure wxy, where wave w ended at 1.2609, wave x ended at 1.7511 and wave y is in progress towards 0.7646 - 0.9385. Wave y is also unfolding in double corrective structure, i.e. ((W))-((X))-((Y)). Wave ((W)) ended at 1.2453, wave ((X)) took the form of a FLAT ABC and ended at 1.5586, and wave ((Y)) of y is currently in progress towards 0.9385. We don't like buying the pair and the view remains valid as far as wave ((X)) pivot at 1.5586 holds.

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