Robusta coffee can be making a five-wave bearish impulse, down from the highs with price currently trading sideways, within corrective leg iv. Ideally, an Elliott wave triangle is in the making within wave iv, which will later push the price below the 1701 level for final wave v.

Robusta coffee, 1h

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USD/CAD is trading sharply bullish and based on current developments, we assume price is in a triangle pattern of wave iv, so more upside can be seen within wave v, just keep in mind that deeper pullback may occur quickly once new highs into 1.29 area are reached.

USD/CAD, 1h

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