A growth resumed.

Assumingly, an upward impulse within the third wave of the senior level (3) continues forming. Locally, the fifth wave v of 5 of (3) seems to be forming, within which, according to the first wave (i), a diagonal is going to be formed. If the assumption is correct, the pair continues growing towards 1.3500, 1.3600. A critical for this scenario is the level of 1.3014, the breakdown of which would allow the pair to fall to 1.2900, 1.2800 within the senior level correction (4).

Trading tips

Buy the pair above the level of 1.3014 with targets at 1.3500, 1.3600.

Alternative scenario

The breakdown and consolidation below the level of 1.3014 would allow the pair to fall to 1.2900, 1.2800.

USD/CAD: wave analysis

USD/CAD: wave analysis

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