Friday, 04 December 2020


A Analysis

USD/CAD and USD/JPY: wave analysis

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USD/CAD: wave analysis Pair is in correction. A short-term growth is expected. The formation of an upward impulse within the third wave of the senior level (3) has finished. At present, the development of a large Bearish correction within the fourth wave seems to have started. Locally, the first wave of the junior level a of A seems to have finished. If the assumption is correct, a short-term growth within wave b of A towards the area of the level of 1.3250 is expected. Trading tips In the short-term, buy the pair above the level of 1.2895 with targets at 1.3200, 1.3250. In the medium-term, wait for correction to end and sell the pair below the level of 1.3460 with targets at 1.2700, 1.2500. Alternative scenario The breakdown and consolidation below the level of 1.2895 would allow the pair to fall to 1.2700, 1.2500.

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USD/JPY: wave analysis A fall is expected. Assumingly, the formation of a triangle within wave b of A of (4) of a supposed zigzag has finished. Locally, the development of wave c of A has started, within which a starting impetus (i) and a correction shaped as irregular (ii) formed. If the assumption is correct and the price does not break out the critical level at 120.35, the pair is going to fall to 117.00 within the third wave (iii) of c of A. Trading tips Sell the pair below the level of 120.35 with the target at 117.00. Alternative scenario The breakout and consolidation above the level of 120.35 would allow the pair to grow to 121.00, 122.00.

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