USD/CAD: Wave analysis and forecast for 10.06 – 17.06: The pair is likely to rise up.

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Estimated pivot point is at the level of 1.2458.

Our opinion: Buy the pair from correction above the level of 1.2646 with the target of 1.3294.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2646 will enable the pair to continue decline to 1.2458 – 1.24.

Analysis: Presumably, the formation of the upward correction continues in the wave B of the senior level. At the moment, it seems that the wave b of B is finishing, within which the zigzag (a)(b)(c) has been formed. If this assumption is correct, the pair will continue to rise up within the wave c of B to 1.3294.

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