This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

usdcad

The current USDCAD structure hints to a bearish zigzag consisting of primary sub-waves Ⓐ-Ⓑ-Ⓒ.

Wave Ⓐ is a fully complete impulse and wave Ⓑ points to a triangle pattern. Wave Ⓒ is also an impulse, however, its course has not completed just yet.

In the short term, we could see a slight decline in wave (5) of Ⓒ near 1.3256.

The target 1.3256 would respect the tenancy of impulse waves Ⓐ and Ⓒ being equal.

usdcad

An alternative scenario shows that the Ⓐ-Ⓑ-Ⓒ zigzag has already completed into cycle wave w of a double zigzag.

In this case, we could see USDCAD rising in wave x near 1.4087.

At that level,  wave x will be at 50% of wave w.

How do you feel the CAD will fare in the coming weeks? Open your Orbex account and trade now! 

The post USDCAD Zig-Zag Likely to End Soon appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.