USDCAD has almost completed two sets of five-wave upward moves.
Further development is possible in two scenarios, both are perfectly feasible:
1) we continue moving upward - that would mean that wave (3) has started, followed by wave (5), target 1.3200
2) we fall back in wave C of in a flat correction correction. (we already had three waves down, then three waves up, nothing prevents us from making five waves down thus forming a 3-3-5 flat).
Watch for the behavior within the corrective area market yellow to understand the future direction.
Further development is possible in two scenarios, both are perfectly feasible:
1) we continue moving upward - that would mean that wave (3) has started, followed by wave (5), target 1.3200
2) we fall back in wave C of in a flat correction correction. (we already had three waves down, then three waves up, nothing prevents us from making five waves down thus forming a 3-3-5 flat).
Watch for the behavior within the corrective area market yellow to understand the future direction.
