USD/СAD Wave Analysis And Forecast For 16 – 23.02.18
Mayzus | Feb 16, 2018 10:18AM ET
USD/CAD
Estimated pivot point is at a level of 1.2420.
Main scenario: long positions will be relevant above the level of 1.2420 with a target of 1.2685 – 1.2820.
Alternative scenario:breakout and consolidation below the level of 1.2420 will allow the pair to continue declining to a level of 1.2255.
Analysis: Supposedly, a descending correction of senior level in the form of the wave 2 of (5) finished developing within the 4-hour time frame. Apparently, a counter-trend impetus in the form of wave 1 of 3 has been formed and a descending correction ii of 3 is nearing completion. If the presumption is correct, the pair will logically resume rising to the levels 1.2685 – 1.2820. The level 1.2420 may be critical in this scenario.
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