The USD/CAD pair is under correction, still likely to grow. Estimated pivot point is at a level of 1.3012.
Main scenario: long positions will be relevant from corrections above the level of 1.3012 with a target of 1.3450 – 1.3564.
Alternative scenario: Breakout and consolidation below the level of 1.3012 will allow the pair to continue declining to the levels of 1.2849 – 1.2656.
Analysis: On the D1 time frame, supposedly, a descending correction finished developing in the form of the second wave of senior level (2) and wave (3) has started forming. The first wave of junior level i…
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