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USD/CAD: wave analysis on 01.03.2016

A downward trend continues.

Assumingly, a downward double zigzag within the first wave of a large Bearish correction continues forming. Locally, a correction in wave x seems to have finished and an impulse in wave (a) of y is developing. If the assumption is correct, the pair continues falling towards 1.3280, 1.3054 within the zigzag. Critical for this scenario is the level of 1.3860, a breakout of which would lead to pair’s growth towards 1.4000, 1.4100.



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