USD/CAD: Wave analysis and forecast for 10/05/19 – 17/05/19

USD/CAD: Wave analysis and forecast for 10/05/19 – 17/05/19

The pair USD/CAD is still likely to grow. Estimated pivot point is at a level of 1.3275.

Main scenario: long positions will be relevant from corrections above the level of 1.3275 with a target of 1.3660 – 1.3843.

Alternative scenario: Breakout and consolidation below the level of 1.3275 will allow the pair to continue declining to the levels of 1.3126 – 1.3066.

Analysis: Supposedly, an ascending trend continues to form as the third wave of senior level 3 of (5) on the daily time frame.  The third wave  iii of 3 is developing on the H4 time frame, , with both the wave (i) of iii formed and the correction in the form of wave (ii) of iii completed inside. Apparently, the third wave of junior level (iii) of iii started forming on the H1 time frame, with the wave i of (iii) formed inside. If this assumption is correct, the pair will go on growing to a level of 1.3660 and higher. The level 1.3275 is critical in this scenario.

USDCAD

Do You Want To Make Thousands Of Dollars Extra Cash Every Month
From Forex Trading In Pakistan?

Subscribe To Our Mailing List And Get Free Forex Training Videos, Free Forex Trading Strategies, Free Forex Indicators, Robots And Free Forex Analysis From ForexGuru.Pk Team In Your Email

We Respect Your Privacy And Protect It Seriously

Categories: Free Forex Signals

Tags:

Do NOT follow this link or you will be banned from the site!