OANDA:USDCAD   U.S. Dollar / Canadian Dollar
54 0
The pair can decrease.

On the 4-hour chart, the downward correction is developing as a wave 2 of (5). Now the wave c of 2, within which the development of the fifth wave of the lower level (v) of c has begun, is forming. If the assumption is correct, the pair will fall to the level of 1.2220. The level of 1.2386 is critical for this scenario.

Main scenario

Short positions will become relevant during the correction, below the level of 1.2386 with the target at 1.2220.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.2386 will let the pair grow to the level of 1.2600.



Timeframe Intraday
Recommendation SELL
Entry Point 1.2307
Take Profit 1.2220
Stop Loss 1.2365
Key Levels 1.2220, 1.2386, 1.2600

Alternative scenario

Recommendation BUY STOP
Entry Point 1.2380
Take Profit 1.2600
Stop Loss 1.2310
Key Levels 1.2220, 1.2386, 1.2600
Register on LiteForex site and get more analysis https://www.liteforex.com/?uid=880952068&cid=12118
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out