The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.2847.
Main scenario: long positions will be relevant from corrections above the level of 1.2847 with a target of 1.3300 – 1.3400.
Alternative scenario:breakout and consolidation below the level of 1.2847 will allow the pair to continue declining to a level of 1.2525.
Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop within the daily time frame in the form of a wedge. Apparently, the fifth wave of junior level v of 1 is forming now, with the wave (iii) of v forming inside. If the presumption is correct, the pair will continue to rise to levels 1.3300 – 1.3400. The level 1.2847 is critical in this scenario.
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Price chart of USDCAD in real time mode
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