USD/СAD: Wave Analysis and Forecast for 15.04 – 22.04
USD/СAD: Downtrend continues.
Estimated pivot point is at the level of 1.29.
Our opinion: Sell the pair from correction below the level of 1.29 with the target of 1.27 – 1.26.
Alternative scenario: Breakdown and consolidation of the price above the level of 1.29 will enable the pair to continue the rise up to 1.31 – 1.32.
Analysis: Presumably, the formation of the downward impetus continues in the wave A. At the moment it seems that the fifth wave is being formed v of A, within which the third wave (iii) as an impetus is developing. If this assumption is correct, and the price does not break out the critical level of 1.29, the pair will continue to decline to the levels of 1.27 – 1.26.
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