Strong upward trend.

A formation of the third wave of the senior level iii of 5 continues. Locally, a bear impetus within the third wave of the junior level (iii) of iii is finishing and a local correction in a form of wave (iv) of iii is forming. If the assumption is correct, the pair continues growing towards 1.2900 after correction ends.

Trading tips

Wait for the correction to end and open long positons above 1.2520 with the target at 1.2900-1.3000.

Alternative scenario

The breakdown and consolidation below 1.2520 would allow the pair to continue falling towards 1.2300-1.2200.

USD/CAD: wave analysis

USD/CAD: wave analysis




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



Follow us in social networks!
Live Chat
Leave feedback