Market Overview
The USD/CAD pair started yesterday's trading day in a downward move, this major pair tested 100EMA support twice before we saw price above 0.9925 level. This major pair started pushing higher in New York session after good USA Unemployment Claims report 358k from 373k.Today in early Asian session aud/usd broke 50 and 100EMA resistance and started pushing to 0.9980 level. We are expecting to see above 1.0000 level today. We need to take a look at USA and CAD Trade Balance and USA Prelim UoM Consumer Sentiment that could affect this pair.

Support and Resistance levels
(S3) 0.9896 (S2) 0.9917 (S1) 0.9930 (PP) 0.9951 (R1) 0.9972 (R2) 0.9985 (R3) 1.0006

USD/CAD Elliott Wave Analysis
The USD/CAD pair finished wave c of the bigger wave (e) at 61.8% of wave a at 0.99251.We are currently in wave bigger wave (i),We are expecting to see end of wave i around 1.0000 and 1.0020 level where we can start shorting in ii wave.For Take Profits levels we will using 50 and 61.8% of wave i. We can measure this levels with Fibonacci retracement (0.9925-1.0020) to the 0.9970 (50% of wave i) and 0.9960 (61.8% of wave i). For stop loss we can use resistance level at 1.0045

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 1.0020 with Stop Loss at 1.0045, Take Profit at 0.9970 and Take Profit 2 at 0.9960 are