USD/CAD: Wave Analysis And Forecast For May 18-25, 2018

The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.2727.

Main scenario: long positions will be relevant from corrections above the level of 1.2727 with a target of 1.3126.

Alternative scenario:breakout and consolidation below the level of 1.2727 will allow the pair to continue declining to a level of 1.2520.

Analysis: Supposedly, the third wave of senior level iii of 3 continues to develop within the daily time frame. Apparently, a local irregular correction of junior level (ii) of iii has finished forming. If the assumption is correct, the pair will continue growing to the level of 1.3126. The level 1.2727 is critical in this scenario.

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