The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3131.
Main scenario: long positions will be relevant from corrections above the level of 1.3131 with a target of 1.3384 – 1.3564.
Alternative scenario: Breakout and consolidation below the level of 1.3131 will allow the pair to continue declining to the levels of 1.3014 – 1.2900.
Analysis: Supposedly, a descending correction finished developing on the D1 time frame in the form of the second wave of senior level (2) and wave (3) started forming. The first wave of junior level i of 1 of…
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