USD/CAD: wave analysis
15 February 2019, 08:58| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.3303 |
| Take Profit | 1.3661 |
| Stop Loss | 1.3188 |
| Key Levels | 1.3067, 1.3188, 1.3661 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.3180 |
| Take Profit | 1.3067 |
| Stop Loss | 1.3240 |
| Key Levels | 1.3067, 1.3188, 1.3661 |
The pair may grow.
On the 4-hour chart, the third wave of the higher level 3 develops, within which the wave ii of 3 ended. Now the entry wave of the lower level (i) of iii of 3 has formed, and a local correction developed as the wave (ii) of iii. If the assumption is correct, the pair will grow to the level of 1.3661. In this scenario, critical stop loss level is 1.3188.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3188 with the target at 1.3661. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3188 will let the pair go down to the level of 1.3067.
On the 4-hour chart, the third wave of the higher level 3 develops, within which the wave ii of 3 ended. Now the entry wave of the lower level (i) of iii of 3 has formed, and a local correction developed as the wave (ii) of iii. If the assumption is correct, the pair will grow to the level of 1.3661. In this scenario, critical stop loss level is 1.3188.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3188 with the target at 1.3661. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3188 will let the pair go down to the level of 1.3067.
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