USD/CAD Wave analysis and forecast for 23.05 – 30.05: The pair is likely to grow.

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Estimated pivot point is at the level of 1.0848.

Our opinion: Buy the pair above the level of 1.0848 with the target of 1.1030 – 1.11.

Alternative scenario: Breakout of the level of 1.0848 will enable the pair to continue decline to the level of 1.0730.

Analysis:Presumably, the formation of the downward correction as the fourth wave has completed. Locally, the first wave in the fifth wave of the senior level is being formed. If this assumption is correct, and the price does not break down the critical level of 1.0848, the

pair is likely to grow.

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