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    USD/CAD: wave analysis on 21.10.2015

    A decline is still possible.

    Assumingly, there is a formation of a large “bearish” correction as the fourth wave (4) within which the first wave A as a zigzag is forming. Locally, wave c of A is developing within which a decline is expected within the third wave of the junior level (iii). If the assumption is correct, the pair continues declining to 1.2680. A critical for this scenario is the level of 1.3048 the breakout of which would lead to a growth towards 1.3220-1.3320.

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