USD/CAD: wave analysis
24 August 2018, 09:48
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3080 |
| Take Profit | 1.3385, 1.3500 |
| Stop Loss | 1.2985 |
| Key Levels | 1.2740, 1.2985, 1.3385, 1.3500 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.2980 |
| Take Profit | 1.2740 |
| Stop Loss | 1.3060 |
| Key Levels | 1.2740, 1.2985, 1.3385, 1.3500 |
The pair can grow.
On the 4-hour chart, the fifth wave of the higher level v of 1 develops. Now the wave (v) of v of the lower level is developing, within which the local correction ii of (v) has ended. If the assumption is correct, the pair will grow to the levels of 1.3385–1.3500. The level of 1.2985 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2985 with the targets at 1.3385–1.3500. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2985 will let the pair go down to the level of 1.2740.
On the 4-hour chart, the fifth wave of the higher level v of 1 develops. Now the wave (v) of v of the lower level is developing, within which the local correction ii of (v) has ended. If the assumption is correct, the pair will grow to the levels of 1.3385–1.3500. The level of 1.2985 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2985 with the targets at 1.3385–1.3500. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2985 will let the pair go down to the level of 1.2740.
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