The pair is still likely to grow

Supposedly, a bearish correction in a form of  fourth wave 4 is completed. Apparently, the first counter-trend wave in a form of a small impetus (i) and its correction (ii) have been formed by now. If this assumption is correct and the price does not break the critical level 1.1940, it's logical to expect the pair to rise to the levels 1.2300 – 1.2600 – 1.2800

Trading tips

Buy the pair from corrections above the level of 1.1940 with targets at 1.2300-1.2600.

Alternative scenario

Breakout and consolidation below the level of 1.1940 will allow the pair to continue declining to the levels 1.1800-1.1700.

USD/CAD: wave analysis

USD/CAD: wave analysis

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