USD/СAD: Wave Analysis and Forecast for 29.04 – 06.05.
Estimated pivot point is at the level of 1.2754.
Our opinion: sell the pair from correction below the level of 1.2754 with the target of 1.2250 – 1.22.
Alternative scenario: breakdown and consolidation of the price above the level of 1.2754 will enable the pair to continue the rise up to 1.2990 – 1.3220.
Analysis: presumably, the formation of the downward impetus continues in the wave A. At the moment it seems that the fifth wave is being developed (v) of v of A. If this assumption is correct, and the price does not break out the critical level of 1.2754, the price may decline to 1.2250 – 1.22.
