USD/CAD remains likely to fall. Estimated pivot point is at a level of 1.3525.
Main scenario: consider short positions from corrections below the level of 1.3525 with a target of 1.3250 – 1.3100.
Alternative scenario: breakout and consolidation above the level of 1.3525 will allow the pair to continue rising to the levels of 1.3645 – 1.3832.
Analysis: An ascending corrective wave of larger degree (B) of 4 presumably finished developing on the daily time frame and wave (C) of 4 started forming. The first wave 1 of (C) is developing on the H4 time frame, with wave v of…
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