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USD/CAD: wave analysis on 18.08.2015

The pair is in correction.

Assumingly, a formation of the third wave of the senior level iii of 5 is finished. Locally, a correction in a form of the fourth wave iv seems to be forming, within which the first wave (a) in a shape of a diagonal and a correction of wave (b) seemed to have formed. If the assumption is correct, in the short-term the pair continues falling within wave (c) towards 1.2785. A critical for this scenario is the level of 1.3205, the breakout of which would allow the pair to grow.

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