A fall is expected.

Assumingly, an upward impulse within the third wave of the senior level (3) has finished. Locally, a reverse in the pair seems to be forming. If the assumption is correct, the pair is going to fall towards 1.2935. A critical for this scenario is the level of 1.3320, the breakout of which would lead to a growth in the pair towards 1.3500.

Trading tips

Sell the pair below the level of 1.3155 with the target at 1.2935.

Alternative scenario

The breakout and consolidation above the level of 1.3320 would allow the pair to grow to 1.3500.

USD/CAD: wave analysis

USD/CAD: wave analysis

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