A fall possibility remains.

Assumingly, a double zigzag wxy within wave B of 4 has formed. Locally, a starting wave (i) of the junior level seems to have formed and a correction in the wave (ii) has finished. If the assumption is correct and the price does not breakout the critical level of 1.3400 the pair will fall towards the levels of 1.3200, 1.3100 within the third wave (iii).

Trading tips

Sell the pair below the level of 1.3400 with targets at 1.3200, 1.3100.

Alternative scenario

The breakout and consolidation above the level of 1.3400 would allow the pair to grow to 1.3500, 1.3550.

USD/CAD: wave analysis

USD/CAD: wave analysis

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