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USD/CAD: wave analysis 24.09.2018
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NPBFX offers the latest release of analytics on the USD/CAD for a better understanding of the current market situation and more efficient trading.
The pair can fall.
On the 4-hour chart, the downward correction develops as a wave 2. Now the formation of the wave c of 2 has begun, within which the first wave of the lower level (i) of c has formed. If the assumption is correct, after the end of the correction (ii) of c the pair will fall to the levels of 1.2820–1.2740. In this scenario, critical stop loss level is 1.3095.
Short positions will become relevant after the end of the correction, below the level of 1.3095 with the targets at 1.2820–1.2740. Implementation period: 7 days and more.
The breakout and the consolidation of the price above the level of 1.3095 will let the pair grow to the level of 1.3227.
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