USDСAD Wave analysis and forecast of 22.08 – 29.08: The pair is likely to grow.

Estimated pivot point is at the level of 1.0857.

Our opinion: Buy the pair from correction above the level of 1.0857 with the target of 1.1060. 

Alternative scenario: Breakout and consolidation below the level of 1.0857 will make it possible for the price to continue the decline to the level of 1.08 in the second wave.

Analysis: Presumably, the formation of the ascending momentum in the first wave i of 5 of (3) is being completed. Locally, the fifth wave (v) is being formed and nearing completion. If this assumption is correct, it's logical to expect a deep correction to form in the wave ii of 5 of (3) near the level of 1,08.

Free subscription to my signals:

ElliottTargets 2014 HR : https://www.mql5.com/en/signals/52247

ElliottTargets 2014 LR :  https://www.mql5.com/en/signals/36068