USD/CAD Wave Analysis: 04/12/2019–04/19/2019

The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3282.

Main scenario: long positions will be relevant from corrections above the level of 1.3282 with a target of 1.3660.

Alternative scenario: Breakout and consolidation below the level of 1.3282 will allow the pair to continue declining to the levels of 1.3219 – 1.3126.

Analysis: Supposedly, an ascending trend continues to form as the third wave of senior level 3 of (5) on the daily time frame. On H4 timeframe, presumably the descending correction ii of 3 has finished forming in the form of a zigzag and the wave iii of 3 started developing. Apparently on the H1 time frame, the local correction of junior level finished developing in the form of wave (ii) of iii. If this assumption is correct, the pair will continue to rise to 1.3660 and higher. The level 1.3282 is critical in this scenario.

USD/CAD

USD/CAD

USD/CAD

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