USDCAD Zigzag Completion Eyes 1.3520

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The current USDCAD structure hints at a triple zigzag consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

Waves Ⓦ-Ⓧ-Ⓨ are complete, whereas wave Ⓧ is under development.

Wave Ⓧ has a bullish zigzag structure and consists of intermediate sub-waves (A)-(B)-(C).

The development of the intermediate impulse (C) could extend prices up to 1.352.

At that level, primary wave Ⓧ will be at 50% of wave Ⓨ.

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An alternative scenario shows wave Ⓧ having a sideways structure. In this case, it will take the form of a contracting triangle (A)-(B)-(C)-(D)-(E) of the intermediate degree.

Zigzag wave (A) is already complete.

Currently, we see a decline in zigzag wave (B), which consists of waves A-B-C.

Minor impulse C could end near 1.306. At that level, wave (B) will be at 76.4% of wave (A).

In the short term, the price will move flat until the end of the intervening wave Ⓧ.

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