Correction is nearing completion, the pair USD/CAD is likely to grow. Estimated pivot point is at a level of 1.3041.
Main scenario: long positions should be considered above the level of 1.3041 with a target of 1.3327 – 1.3498 once a correction has formed.
Alternative scenario: breakout and consolidation below the level of 1.3041 will allow the pair to continue declining to the levels of 1.2849 – 1.2657.
Analysis: Supposedly, a descending correction finished developing in the form of the second wave of senior level (2) and the third wave (3) is forming on the D1 time frame. A correction…
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