An upward trend is strong.

An upward impulse in the fifth wave of the senior level v of 5 of (3) continued forming. Locally, an upward impulse seems to be forming within which an extension of the third wave (iii) is forming. If the assumption is correct and the price does not break down the critical level of 1.3848, the pair continues growing to 1.4100-1.4200.

Trading tips

Buy the pair from corrections, above the level of 1.3848 with the target at 1.4100-1.4200.

Alternative scenario

The breakdown and consolidation below the level of 1.3848 would allow the pair to continue declining to 1.3280.

USD/CAD: wave analysis

USD/CAD: wave analysis

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