A fall is expected.

Assumingly, a downward impulse within the fifth wave of the senior level v of 5 of (3) has formed. Locally, a Bearish correction seems to be developing within which a zigzag (a)(b)(c) seems to be forming. If the assumption is correct and the price does not break out the critical level of 1.4322, the pair continues falling towards 1.3800.

Trading tips

Sell the pair below the level of 1.4322 with the target at 1.3800.

Alternative scenario

The breakout and consolidation above the level of 1.4322 would allow the pair to grow to 1.4500, 1.4690.

USD/CAD: wave analysis

USD/CAD: wave analysis

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