An upward trend is strong. 

Assumingly, the third wave of the senior level iii of 5 continues forming, within which an impetus extension is developing. Locally, most likely the third wave of the junior level is finishing, and if the assumption is correct, after a small correction the pair continues growing towards 1.3300, 1.3400. A critical for this scenario is the level of 1.2857.  

Trading tips 

Buy the pair above the level of 1.2857 with targets at 1.3300, 1.3400. 

Alternative scenario 

The breakdown and consolidation below the level of 1.2847 would allow the pair to fall to 1.2600, 1.2500. 

USD/CAD: wave analysis

USD/CAD: wave analysis

 

 




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