USD/СAD: Wave analysis and forecast for 04.03 – 11.03: Downtrend dominates.

Estimated pivot point is at the level of 1.3650.

Our opinion: Sell the pair from correction below the level of 1.3650 with the targets of 1.3280 – 1.3054.

Alternative scenario: Breakdown and consolidation of the price above the level of 1.3650 will enable the pair to continue the rise up to 1.3850.

Analysis: Presumably, the formation of the downward zigzag continues in the first wave of the new “bearish” correction. Locally, it seems that the wave is being formed from a zigzag as an impetus, within which the third wave (iii) of c is nearing completion. If this assumption is true, after the correction (iv) the pair will continue to decline to 1.3280 – 1.3054.

USD/СAD: Wave analysis and forecast for 04.03 – 11.03

USD/СAD: Wave analysis and forecast for 04.03 – 11.03




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback