USDCAD - W1\D1
USDCAD
W1 - The price is near the lower border of the sideways band, but was unable to break through the previous lows. Expecting a rebound to the upper limit with an update to the previous high of 1.38990. It is also worth considering that there may still be a move down to update the minimum, or a continuation of the downward movement in the event of fixation beyond the lower border level and a retest.
D1 - You can observe a corrective movement after a strong downward impulse, during which you can determine the continuation of the downward movement with the goal of updating the lows of D1 and W1 with targets of 1.30311.
What can you expect?
The idea is short-term in continuing the downward movement. You can consider entering from these levels ~1.33586 or expect a breakout of level 1.33387 with a target of 1.30311
Cancellation if the price breaks the maximum of the 1st wave - 1.34130, which can form a 3-wave structure and continue the upward movement.
Short
Target 1.32927 - 1.32264 - 1.31293 - 1.30311
W1 - The price is near the lower border of the sideways band, but was unable to break through the previous lows. Expecting a rebound to the upper limit with an update to the previous high of 1.38990. It is also worth considering that there may still be a move down to update the minimum, or a continuation of the downward movement in the event of fixation beyond the lower border level and a retest.
D1 - You can observe a corrective movement after a strong downward impulse, during which you can determine the continuation of the downward movement with the goal of updating the lows of D1 and W1 with targets of 1.30311.
What can you expect?
The idea is short-term in continuing the downward movement. You can consider entering from these levels ~1.33586 or expect a breakout of level 1.33387 with a target of 1.30311
Cancellation if the price breaks the maximum of the 1st wave - 1.34130, which can form a 3-wave structure and continue the upward movement.
Short
Target 1.32927 - 1.32264 - 1.31293 - 1.30311
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