An upward trend has finished. A decline is expected.

Assumingly, an upward trend within wave b of A, which, at present, has the shape of a zigzag, has finished forming. Locally, a starting wave (i) seems to be forming. If the assumption is correct and the price does not breakout the critical level of 1.3370, a decline to 1.3000-1.2800 is to be expected.

Trading tips

Sell the pair from corrections, below the level of 1.3370 with the target at 1.3000-1.2800.

Alternative scenario

The breakout and consolidation above the level of 1.3370 would allow the pair to continue growing to 1.3450-1.3500.

USD/CAD: wave analysis

USD/CAD: wave analysis

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