An upward trend is strong, local correction is expected.

Assumingly, a formation of the third wave of the senior level iii of 5 is finishing. Locally, as it seems, the fifth wave of the junior level is finishing. If the assumption is correct, expect the decline within the correction towards 1.2800-1.2700. The critical for this scenario is the level of 1.2114.

Trading tips

Short-term: sell the pair below 1.3020 with the target at 1.2800-1.2700.

Medium-term: wait for the correction to finish and buy with the target at 1.3300.

Alternative Scenario

The breakout and consolidation above 1.3020 would allow the pair to continue growing towards 1.3300 without significant corrections.

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