A growth is expected.

Assumingly, a downward zigzag within a large Bearish correction has formed. Locally, an upward correction in wave b shaped as a flat seems to be developing and if the assumption is correct, in the short-term the pair continues growing towards 1.4018. Critical for this scenario is the level of 1.3650, a breakdown of which would allow the pair to fall to 1.3280.

Trading tips

In the short-term, buy the pair above the level of 1.3650 with the target at 1.4018.

Alternative scenario

The breakdown and consolidation below the level of 1.3650 would allow the pair to fall to 1.3280.

USD/CAD: wave analysis

USD/CAD: wave analysis

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