USDCAD is trading nicely higher for the past few weeks, which was expected after wave B) pull-back down to 0.9800 support at the end of 2012. As per Elliott Wave Analysis, after completed correction the market will make an impulsive price action, in wave C); five wave rally in wave C), which is still incomplete. For now USDCAD has only three waves up to 1.0340 so more gains to come after current wave 4 pull-back that could test 1.0200 level next week, before uptrend resumes. Critical level is at 1.0100. As per Elliott Wave Rule, wave four must not make an overlap with wave one.
![Image](http://www.ew-forecast.com/content/fck/usdcad720_2.gif)