USD/CAD: wave analysis
The pair may fall.
On the 4-hour chart, a correction of the higher level developed as the wave (2), and the formation of the downward wave (3) started. Now, the third wave of the lower level iii of 1 is developing, within which the wave (iii) of iii has formed, and the local correction (iv) of iii is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.2700–1.2600. In this scenario, critical stop loss level is 1.2906.
