The probability of a decrease in USD/CAD stays. Estimated pivot point is at the level of 1.3144.
Main scenario: “short positions” are relevant from corrections below the level of 1.3144 with the target of 1.2910 – 1.2797.
Alternative scenario: breakout and consolidation above the level of 1.3144 will allow growth to 1.3233 – 1.3281.
Analysis: within the daily timeframe, the downward correction is presumably continuing to form as the second wave of the senior level (2). On the 4 – hour timeframe, wave C of (2) is developing in the form of an impulse. Within H1 timeframe, it appears that a correction has been formed as a wave iv of C and the fifth wave v of C is being developed. If the assumption is correct, the pair will continue to decrease in the wave of v of C to 1.2910 – 1.2797. Critical level for this scenario is 1.3144.
USD/?AD: Wave Analysis And Forecast For July 19-26, 2019
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.