The USD/CAD price is still likely to grow. Estimated pivot point is at a level of 1.3062.

Main scenario: long positions will be relevant above the level of 1.3062 with a target of  1.3500 – 1.3600.

Alternative scenario: Breakout and USD/CAD price consolidation below the level of 1.3062will make the USD/CAD rate continue declining to the levels of 1.2850 – 1.2735.

Analysis: Supposedly, the first wave of senior level 1 of (5) continues to develop on the daily time frame in the form of a wedge. The fifth wave v of 1 is developing on the 4-hour timeframe.   Apparently, the third wave of junior level (iii) of v continues forming now on the 1-hour time frame, with the complete local correction iv of (iii) inside. If the presumption is correct, it is reasonable to expect the USD/CAD price to continue rising towards the levels of 1.3500 – 1.3600. The level 1.3062 is critical in this scenario.

USD/СAD: волновой анализ и прогноз на 13.07.18 – 20.07.18

USD/СAD: волновой анализ и прогноз на 13.07.18 – 20.07.18

USD/СAD: волновой анализ и прогноз на 13.07.18 – 20.07.18

USD/СAD wave analysis and forecast for 13/07/2018 – 20/07/2018

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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