Pair is in correction.

Assumingly, a development of an upward correction in wave b that is taking a form of a flat is nearing the end. Locally, wave (c) of b seems to be forming and if the assumption is correct, the pair continues falling towards 1.3280 after it ends.

Trading tips

Buy the pair above the level of 1.3660 with targets at 1.3890, 1.4000.

Alternative scenario

The breakdown and consolidation below the level of 1.3660 would allow the pair to fall to 1.3280.

USD/CAD: wave analysis

USD/CAD: wave analysis




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