The probability of a decrease in the pair USD/CAD remains. Estimated pivot point is at the level of 1.3144.
Main scenario: “short positions” are relevant from corrections to the level below 1.3144 with the target of 1.2910 – 1.2797.
Alternative scenario: breakout and price consolidation above the level of 1.3144 will allow the pair to continue to rise to the levels of 1.3233 – 1.3281.
Analysis: within the daily timeframe, it is assumed that the formation of the downward correction continues as the second wave of senior level (2). On the 4 – hour timeframe, wave C of (2) is…
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