eurcad - correction may continue

21 set 2016

I think the minimum correction has been met -- (C) has finished or we are in or towards the tail end of it. Frankly I am looking for price to continue rising, as the down move is only in 3 waves so far (see chart below). There are several variations from here -- it's done, or one more up, or we just completed wave 1 of C of (C), or more beyond that. The bottom line is that there is no impulse down yet to hint that the correction is over.

21 set 2016

Nota

overlapping corrective waves from the high with possible divergence.