3:17 PM
Wave Analysis 19.03.2015 (USD/CAD)
FXTM Online Analysis Department.
USD CAD, “US Dollar vs Canadian Dollar”
As we expected, after finishing horizontal triangle 4 of (5) of [3], the pair has reached a new local high and started forming a descending correction inside wave [4]. In the near term, the pair is expected to form wave(B) of [4] and continue a short-term descending tendency inside wave (C) of [4].
After a fast five-wave structure inside wave (A) of [4], the market is being corrected inside wave (B) of [4], which may take the form of zigzag. In the nearest future, the price may continue falling and complete the whole correctional wave [4].
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