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USD/CAD: wave analysis

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  • USD/CAD: wave analysis

    The pair may fall.

    On the daily chart, the downward wave of the higher level (C) of 4 develops, within which the third wave 3 of (C) formed, and an upward correction ended as the fourth wave 4 of (C). Now, the fifth wave 5 of (C) is developing, within which the first wave of the lower level i of 5 has formed, a local correction has ended as the wave ii of 5, and the development of the wave iii of 5 has started. If the assumption is correct, the pair will fall to the levels of 1.2001–1.1800. In this scenario, critical stop loss level is 1.2951.