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Main scenario: Consider buying positions from corrections above 1.3588 with a target of 1.4000 – 1.4200.
Alternative scenario: Breaking and holding below the 1.3588 level will allow the pair to continue falling to the 1.3352 – 1.3168 levels.
analysis: The fifth wave of larger degree 5 is supposed to continue developing on the weekly time frame, with wave (1) of 5 emerging as part of it. The fifth wave of smaller degree 5 of (1) is forming on the daily time frame, with wave iii of 5 developing as part of it. It is clear that wave (iii) of iii is forming on the H4 time frame, where wave v of (iii) is unfolding. If this assumption is correct, then… US Dollar/Canadian Dollar The pair will continue to rise to 1.4000 – 1.4200. The 1.3588 level is crucial in this scenario as breaking it will allow the pair to continue falling to the 1.3352 – 1.3168 levels.
USDCAD price chart in real time mode
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