USD/CAD Set To Grow
Mayzus | Dec 13, 2017 05:25AM ET
USD/CAD
The pair can grow.
On the 4-hour chart the first wave of the higher level 1 of (5) is developing. Now the fifth wave of the lower level v of 1 is forming, within it the wave (i) of v has formed. If the assumption is correct, the pair will grow to the levels of 1.3000–1.3100 after the correction (ii). The level of 1.2620 is critical for this scenario.
Main scenario
Long positions will become relevant after the end of the correction, above the level of 1.2620 with the targets at 1.3000–1.3100.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2620 will let the pair go down to the level of 1.2437.
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