Sunday 8 December 2013

USD/CAD Wave analysis and forecast for 06.12 – 13.12: Uptrend prevails. The pair continues to grow.Estimated pivot point is at the level of 1.06.Our opinion: Buy the pair above the level of 1.06 with the target of 1.0770.Alternative scenario: Breakout of the level of1.06 will enable the pair to continue decline to the levels of 1.05 – 1.04.Analysis: It is assumed that on the daily timeframe the fifth wave of a diagonal in wave (с) of the higher level is being formed. Locally, ascending impetus in wave C of a Zigzag is being formed. If this assumption is correct, the pair will continue to grow to the levels of уровням 1.0740 – 1.08.


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