USD/CAD Wave analysis and forecast for 28.03 – 04.04: The beginning of large correction. The pair is likely to decline. Estimated pivot point is at the level of 1.1278.
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Our opinion: Sell the pair from correction below the level of 1.1278 with the target of 1.0858.
Alternative scenario: Breakdown and consolidation of the price above the level of 1.1278, will enable the pair to continue ascending movement to the levels of 1.13 – 1.14.
Analysis: Presumably, the formation of impetus in the third wave of the long-term uptrend has completed. Locally, the fourth wave is being formed, within which downward impetus as a wave a of A, presumably of a zigzag, will be formed. If this assumption is true, the pair will continue to decline to the levels of 1.0967 – 1.0858.
