![USDCAD Wave analysis and forecast for 01.08 – 08.08: The pair is likely to grow. USDCAD Wave analysis and forecast for 01.08 – 08.08: The pair is likely to grow.](https://c.mql5.com/6/4/splash-3269.jpg)
USDCAD Wave analysis and forecast for 01.08 – 08.08: The pair is likely to grow.
3 August 2014, 12:16
![Abdolreza Basirizadeh Abdolreza Basirizadeh](https://c.mql5.com/avatar/2014/7/53C6B3CB-A10A.jpg)
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Estimated pivot point is at the level of 1.0787.
Our opinion: Buy the pair above the level of 1.0787 with the target of 1.0990 – 1.10.
Alternative scenario: Breakout of the level of 1.0787 will allow the pair to decline up to the levels of 1.07 - 1.0616.
Analysis: Presumably, the formation of the ascending momentum as the first, one-two, one-two wave in the fifth wave of the senior level is being formed. Locally, the third wave (iii) of I is being developed. If this assumption is correct, the pair will continue to grow without breaking down the critical level of 1.0787.