USD/CAD: Wave analysis and forecast for 26/04/2019 – 03/05/2019

The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3333.

Main scenario: long positions will be relevant from corrections above the level of 1.3333 with a target of 1.3660 – 1.3843. 

Alternative scenario: Breakout and consolidation below the level of 1.3333 will allow the pair to continue declining to the levels of 1.3219 – 1.3126.

Analysis: Supposedly, an ascending trend continues to form as the third wave of senior level 3 of (5) on the daily time frame. On the H4 time frame, the wave  iii of 3 has started developing with both...Read full author’s opinion