Correction has lasted for too long. The pair is expected to grow.

Supposedly, the fourth wave taking the shape of a flat correction (a)(b)(c) has finished forming. Apparently, the fifth wave v starts to develop locally within the third wave 3 of senior level. If this assumption is correct and the price does not break the critical level 1.2380, it's logical to expect the pair to continue rising to the level 1.3000.

Trading tips

Buy above the level of 1.2380 with a target at 1.3000.

Alternative scenario

Breakdown and consolidation below the level of 1.2380 will allow the pair to continue declining to the levels 1.2300-1.2250.

USD/CAD: wave analysis

USD/CAD: wave analysis

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