A decline is expected.

Assumingly, a double zigzag (w)(x)(y) within wave B of 4 has finished forming. Locally, a reversal and starting wave (i) of the junior level are forming. If the assumption is correct and the price does not break out the critical level of 1.3438, it is logical to expect a decline towards 1.2800 within wave C of 4.

Trading tips

Sell the pair from corrections, below the level of 1.3438 with the target at 1.3000-1.2800.

Alternative scenario

The breakout and consolidation above the level of 1.3438 would allow the pair to continue growing to 1.3500-1.3650.

USD/CAD: wave analysis

USD/CAD: wave analysis




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback