USD/CAD Signal- June 15, 2012

Currency: USD/CAD Trend Expected Direction: Down Method: Elliott Waves and Fibonacci Levels Description: Fibonacci trading, Momentum, and Golden ratios suggested that the falling complex correction in ABZ complex zigzag has room to fall further targeting 0.5 Fibonacci of the previous motive wave that started on April 27, 2012 at price 0.98022 and ended on Jun 3, 2012 at price 1.04428.  In micro wave trend is heading toward wave v in C leg within larger (C) to complete a full cycle. Recommendation: Sell and Hold Target Area: 1.01455 Stop Loss: 1.0300