USD/CAD: wave analysis 04.05.2020
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading.
The pair may grow.
On the 4-hour chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) formed, and a downward correction developed as the second wave 2 of (3). Now, the formation of the third wave 3 of (3) is starting, within which the first wave of the lower level (i) of i of 3 is developing. If the assumption is correct, the pair will grow to the levels of 1.4562–1.4671. In this scenario, critical stop loss level is 1.3842.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3842 with the targets at 1.4562–1.4671. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.3842 will let the pair go down to the levels of 1.3598–1.3431.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading.
The pair may grow.
On the 4-hour chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) formed, and a downward correction developed as the second wave 2 of (3). Now, the formation of the third wave 3 of (3) is starting, within which the first wave of the lower level (i) of i of 3 is developing. If the assumption is correct, the pair will grow to the levels of 1.4562–1.4671. In this scenario, critical stop loss level is 1.3842.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3842 with the targets at 1.4562–1.4671. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.3842 will let the pair go down to the levels of 1.3598–1.3431.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX.