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Main scenario: Consider buying positions from corrections above 1.3606 with a target of 1.4000 – 1.4200.
Alternative scenario: Breaking and holding below the 1.3606 level will allow the pair to continue falling to the 1.3352 – 1.3168 levels.
analysis: The fifth wave of the larger degree 5 is supposed to continue developing on the weekly timeframe, with wave (1) of 5 appearing as part of it. The fifth wave of the smaller degree 5 of (1) is forming on the daily timeframe, with wave iii of 5 still developing inside it. The third wave of the smaller degree (iii) of iii is clearly forming on the H4 timeframe, where wave v of (iii) is unfolding. If this assumption is correct, then USD/CAD The pair will continue to rise to 1.4000 – 1.4200. The 1.3606 level is crucial in this scenario as breaking it will allow the pair to continue falling to the 1.3352 – 1.3168 levels.
Real-time USDCAD price chart
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