The uptrend is in force.

Supposedly, the third wave of the senior level iii of 5 continues to form. Locally, most likely the "bullish" impetus within the third wave of the junior level (iii) of iii has finished, and the local correction as the wave (iv) of iii is expected to develop. If the assumption is correct, when the correction is completed, the pair continues growing towards 1.2800.

Trading tips

Wait until the correction is completed and then buy the pair above 1.2520 with the target at 1.2800-1.3000.

Alternative Scenario

Breakdown and fixation below 1.2520 would allow the pair to continue falling towards 1.2300-1.2200.

USD/CAD: wave analysis

USD/CAD: wave analysis




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