USD/CAD: wave analysis
12 December 2018, 09:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3378 |
| Take Profit | 1.3700 |
| Stop Loss | 1.3249 |
| Key Levels | 1.3079, 1.3249, 1.3700 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3240 |
| Take Profit | 1.3079 |
| Stop Loss | 1.3300 |
| Key Levels | 1.3079, 1.3249, 1.3700 |
The pair is likely to grow.
On the daily chart, the third wave of the senior level is developing. At the moment, it seems that the first wave i of 3 has been formed, and the correction ii of 3 has been completed. The critical level for this scenario is 1.3249.
Main scenario
Long positions will become relevant above 1.3249 with the target at 1.3700. Implementation period: 7+ days.
Alternative scenario
Breakdown and consolidation of the price below the level of 1.3249 will allow the pair to decline to 1.3079.
On the daily chart, the third wave of the senior level is developing. At the moment, it seems that the first wave i of 3 has been formed, and the correction ii of 3 has been completed. The critical level for this scenario is 1.3249.
Main scenario
Long positions will become relevant above 1.3249 with the target at 1.3700. Implementation period: 7+ days.
Alternative scenario
Breakdown and consolidation of the price below the level of 1.3249 will allow the pair to decline to 1.3079.
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