USD/CAD: Wave Analysis/Forecast: 20 – 27.04.18
Mayzus | Apr 23, 2018 06:38AM ET
The pair USD/CAD is expected to grow. Estimated pivot point is at a level of 1.2526.
Main scenario: Long positions will be relevant from corrections above the level of 1.2526 with a target of 1.2939 – 1.3126.
Alternative scenario: Breakout and consolidation below the level of 1.2526 will allow the pair to continue declining to a level of 1.2444.
Analysis: Supposedly, a descending correction in the form of the wave ii of 3 stopped developing within the 4-hour time frame. Apparently, the wave (i) of iii started forming now, with the first counter-trend wave of junior level i of (i) formed inside. If the presumption is correct, the pair will continue to rise to levels 1.2939 – 1.3126. The level 1.2526 is critical in this scenario.
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