Uptrend continues.

Presumably, the third wave of the senior level iii of 5 continues to form. Locally, as it seems, a "bullish" impetus as the third wave of the junior level (iii) of iii is developing. If the assumption is correct, the pair continues to grow to the level 1.28. The key level for this scenario is 1.2419 the breakdown of which would lead to decline towards 1.2300-1.2200.

Trading tips

Open long positions from the corrections above 1.2419 with the target at 1.2800-1.3000.

Alternative Scenario

Breakdown and consolidation below 1.2419 lead to the further decline towards 1.2300-1.2200.

USD/CAD: wave analysis

USD/CAD: wave analysis

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback