Main state of affairs: take into account lengthy positions above the extent of 1.3485 with a goal of 1.4054 – 1.4300 as soon as a correction fashioned.
Alternative state of affairs: breakout and consolidation under the extent of 1.3485 will permit the pair to proceed declining to the degrees of 1.3400 – 1.3260.
Analysis: the fifth wave of bigger diploma 5 is presumably growing on the each day chart, with wave (3) of 5 forming as its half. The third wave 3 of (3) continues growing on the H4 chart, with a correction accomplished as wave iv of three. Wave v of three is presently growing. Apparently, the primary counter-trend wave of smaller diploma (i) of v is fashioned on the H1 chart, and an area correction is growing because the second wave (ii) of v. If the presumption is right, the pair will proceed to rise to the degrees of 1.4054 – 1.4300 as soon as the correction is over. The degree of 1.3485 is crucial on this state of affairs as its breakout will allow the pair to proceed declining to the degrees of 1.3400 – 1.3260.
Price chart of USDCAD in actual time mode
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