An upward correction is nearing the end.

Wave A of 4 continues forming, within which wave b of A seems to be nearing the end. Assumingly, a Bearish impetus is developing within wave (c) of b, and if the assumption is correct, a decline within wave c of A is to be expected after the impetus has finished developing. A critical for this scenario is the level of 1.3234 the breakdown of which would lead to a decline to 1.3100-1.3000.

Trading tips

Buy the pair above the level of 1.3234 with the target at 1.3300-1.3350.

Alternative scenario

The breakdown and consolidation below the level of 1.3234 would allow the pair to decline to 1.3100-1.3000.

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