USD/СAD: Wave Analysis and Forecast for 29.04 – 06.05.

USD/СAD: Wave Analysis and Forecast for 29.04 – 06.05.

1 May 2016, 07:47
Roberto Jacobs
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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.


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