The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3142.
Main scenario: long positions will be relevant from corrections above the level of 1.3142 with a target of 1.3432 – 1.3564.
Alternative scenario: Breakout and consolidation below the level of 1.3142 will allow the pair to continue declining to the levels of 1.3014 – 1.2900.
Analysis: Supposedly, a descending correction finished developing on the D1time frame in the form of the second wave of senior level (2) and wave (3) started forming. The first wave of junior level 1 of (3) is developing…
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