With the test of 106.30 just above the 61.8% retracement of the rise from 90.56 to 130.63 at 105.82 all odds favor that the wave II bottom is in place.An overly bullish sentiment towards CAD confirms the bottom. At 106.30 98% was bullish towards the Canadian dollar. Figures like that are extrem an calls for a bottom.
The ongoing wave III should exceed the wave I top at 130.63 and will most likely be the longest wave rising towards 161 and mayby even closer to 171 before topping out, but the waves and time will show the right outcome.
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