ForexGuru.PK USD/СAD Wave analysis and forecast for 08.12 – 15.12

Estimated pivot point is at a level of 1.2908.

Main scenario: short positions will be relevant below the level of 1.2908 with a target of 1.2577.

Alternative scenario: breakout and consolidation above the level of 1.2908 will allow the pair to continue rising to a level of 1.3000.

Analysis: supposedly, a descending correction continues to develop within the 4-hour time frame in the form of the wave 2 of (5). Apparently, an upward correction of junior level in the form of the fourth wave iv of C has finished forming locally. If the assumption is correct, the pair will continue falling to the levels of 1.2577. The level 1.2908 is critical in this scenario.

Be the first to comment

Leave a Reply