USD/CAD: wave analysis
20 December 2018, 08:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3495 |
| Take Profit | 1.3700 |
| Stop Loss | 1.3410 |
| Key Levels | 1.3158, 1.3254, 1.3410, 1.3700 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3400 |
| Take Profit | 1.3254, 1.3158 |
| Stop Loss | 1.3460 |
| Key Levels | 1.3158, 1.3254, 1.3410, 1.3700 |
The trend is upward.
On the 4-hour chart, the third wave of the higher level 3 develops. Now, the third wave of the lower level iii of 3 is forming, within which the wave (iii) of iii is developing. If the assumption is correct, the pair will grow to the level of 1.3700. In this scenario, critical stop loss level is 1.3410.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3410 with the target at 1.3700. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3410 will let the pair go down to the levels of 1.3254–1.3158.
On the 4-hour chart, the third wave of the higher level 3 develops. Now, the third wave of the lower level iii of 3 is forming, within which the wave (iii) of iii is developing. If the assumption is correct, the pair will grow to the level of 1.3700. In this scenario, critical stop loss level is 1.3410.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3410 with the target at 1.3700. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3410 will let the pair go down to the levels of 1.3254–1.3158.
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