USD/CAD Wave analysis and forecast for 25.04 – 02.05: Formation of upward correction is nearing completion. A chance of decline in the pair.
For Detail Analysis, Trading Signals and Complete Forex Training In Urdu Call Us +92-300-6561240, Or Visit http://www.pakeagle.com.pk
Estimated pivot point is at the level of 1.1014.
Our opinion: Wait for the completion of the upward correction and sell the pair with the target of 1.0850 – 1.0730.
Alternative scenario: Breakout of the level of 1.1014 will enable the pair to continue decline to the level of 1.0730.
Analysis: Presumably, the formation of ascending correction in the wave b of 4, which is taking a shape of the usual zigzag, is nearing completion. If this assumption is correct, following its completion, the pair will continue the decline to the levels of 1.0850 – 1.0720. Breakdown of the level of 1.101 will serve as a confirmation.
