A growth is still possible.

Assumingly, an upward impulse in the fifth wave of the senior level v of 5 of (3) continues forming. Locally, the third wave (iii) seems to have ended, and a correction as the fourth wave (iv) seems to be developing. If the assumption is correct and the price does not break down the critical level of 1.3715, a growth continues to 1.4100-1.4200.

Trading tips

Buy the pair from corrections, above the level of 1.3715 with the target at 1.4100-1.4200.

Alternative scenario

The breakdown and consolidation below the level of 1.3715 would allow the pair to continue declining to 1.3280.

USD/CAD: wave analysis

USD/CAD: wave analysis

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