USD/СAD: Wave Analysis and Forecast for 13.05 – 20.05

USD/СAD: Wave Analysis and Forecast for 13.05 – 20.05

16 May 2016, 03:53
Roberto Jacobs
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USD/СAD: Wave Analysis and Forecast for 13.05 – 20.05

Estimated pivot point is at the level of 1.2767.

Our opinion: Buy the pair from correction above the level of 1.2767 with the target of 1.33.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2767 will enable the pair to continue decline to 1.2450.

Analysis: Presumably, the formation of the downward impetus has completed in the wave А. At the moment it is likely that upward correction as the wave B is being developed, within which the wave a of B is being formed. If this assumption is correct and the price does not break out the critical level of 1.2767, the price can continue to rise up to 1.33 – 1.3540 – 1.38.


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