The pair is expected to decline due to local correction

Supposedly, the development of the third wave of junior level iii of (v) has finished.   A descending correction in a form of fourth wave is expected to develop down to a level of 1.2615. If the presumption is correct, after correction, the pair will continue to grow to a level at 1.2900.

Trading tips

In the short term: sell the pair below a level of 1.2825 with a target at 1.2615. In the medium term: wait for completion of correction and buy the pair above a level of 1.2600 with targets at about 1.2800-1.2900.

Alternative scenario:

Breakdown and consolidation below the level of 1.2600 will allow the pair to continue declining to the levels 1.2500-1.2400. 

USD/CAD: wave analysis

USD/CAD: wave analysis




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