2016-09-30 16:59:01


Estimated pivot point is at the level of 1.3274.

Our opinion: Sell the pair from correction below the level of 1.3274 with the target of 1.2980 – 1.2757.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3274 will trigger further rise in the pair up to 1.3320.

Analysis: Presumably, the formation of the long-term correction has completed as the wave B of the senior level, which took a pattern of the triple three wxyxz. Locally it is likely that the one-toe wave of the junior level is being formed. If this assumption is correct, the pair may decline to 1.2757 or further down. Critical level for this scenario is 1.3274.

USD/CAD H4

USD/CAD Daily