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USD/CAD: Wave Analysis Report 25 March 2021

USD/CAD: Wave Analysis Report 25 March 2021

The pair may fall.

 On the daily chart, the downward wave of the higher level (C) of 4 develops, within which the fifth wave 5 of (C) forms. Now, the fifth wave of the lower level v of 5 is developing, within which the wave (iii) of v has formed, and a correction is ending as the wave (iv) of v. If the assumption is correct, the pair will fall to the levels of 1.2300–1.2200. In this scenario, critical stop loss level is 1.2733.

 Main Scenario

 Short positions will become relevant during the correction, below the level of 1.2733 with the targets at 1.2300–1.2200. Implementation period: 7 days and more.

 Alternative Scenario

 The breakout and the consolidation of the price above the level of 1.2733 will let the pair grow to the levels of 1.2942–1.3179.

 Scenario

 Timeframe: Weekly

Recommendation: Sell

Entry Point: 1.2567

Take Profit: 1.2300, 1.2200

Stop Loss: 1.2733

Key Levels: 1.2200, 1.2300, 1.2733, 1.2942, 1.3179

 Alternative Scenario

Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 1.2735

Take Profit: 1.2942, 1.3179

Stop Loss: 1.2665

Key Levels: 1.2200, 1.2300, 1.2733, 1.2942, 1.3179

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