USD/CAD remains likely to grow. Estimated pivot point is at a level of 1.3481.
Main scenario: consider long positions from corrections above the level of 1.3481 with a target of 1.3875 – 1.4047.
Alternative scenario: breakout and consolidation below the level of 1.3481 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. On the 4-hour time frame, a descending correction finished developing in the form of wave 2…
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