USDCAD Primary Triple Zigzag to 1.272

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USDCAD is forming a triple zigzag of the primary degree.

The primary wave Ⓩ is under construction, which includes the intermediate sub-waves (A) and (B). Intermediate impulse wave (C) is in formation and consists of five minor sub-waves.

With the third-minute wave completed, we can now expect a corrective upward move in the fourth-minute wave near 1.290, where it will be at 38.2% of the third wave.

Then the minute wave ⓥ can complete the minor wave 5 near 1.272. At that level, impulses 5 and 3 will be equal.


An alternative scenario shows a fully completed triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag of the primary degree.

A new bullish trend could push prices above the 1.317 level, where the minor wave 4 ended.

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


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

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