USD/CAD remains likely to grow. Estimated pivot point is at a level of 1.3320.
Main scenario: consider long positions from corrections above the level of 1.3320 with a target of 1.4047 – 1.4143.
Alternative scenario: breakout and consolidation below the level of 1.3320 will allow the pair to continue declining to the levels of 1.3189 – 1.2948.
Analysis: On the D1 time frame, supposedly a descending correction finished developing in the form of second wave of larger degree (2), and wave (3) started forming. Supposedly, the first counter-trend wave of smaller degree 1 of (3) formed and a descending correction…
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