The ascending trend for USD/CAD price continues. Estimated pivot point is at a level of 1.3109

Main scenario: long positions will be relevant above the level of 1.3109 with a target of 1.3500 – 1.3600.

Alternative scenario: 

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 continues 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 emerging wave v of (iii) inside. If the presumption is correct, the USD/CAD price will continue increasing towards the levels of 1.3500 – 1.3600. The level 1.3109 is critical in this scenario.

USD/СAD: волновой анализ и прогноз на 20.07.18 – 27.07.18

USD/СAD: волновой анализ и прогноз на 20.07.18 – 27.07.18

USD/СAD: волновой анализ и прогноз на 20.07.18 – 27.07.18

Price chart of USDCAD in real time mode

USD/СAD wave analysis and forecast for 20/07/2018 – 27/07/2018

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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