An upward correction continues.

Assumingly, a downward zigzag within a large Bearish correction has finished forming. Locally, an upward correction as wave b seems to be developing. If the assumption is correct, a growth to 1.4100-1.4300 should be expected in the short term. A critical for this scenario is the level of 1.3700 a breakdown of which would lead to a fall to 1.3280.

Trading tips

Buy the pair from corrections, above the level of 1.3700 with the target at 1.4100-1.4300.

Alternative scenario

The breakdown and consolidation below the level of 1.3700 would allow the pair to continue falling to 1.3280.

USD/CAD: wave analysis

USD/CAD: wave analysis

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