Ending of an ascending zigzag. USD/CAD wave analysis

Analysis for October 17^th, 2014

In our previous review, “Completion of an ascending zigzag. Wave analysis of USD/CAD for 10.10.2014”, we discussed one of the possible scenarios how the price may complete an ascending zigzag(b) of [iv] and start a descending zigzag(c) of [iv].



Probably, the pair is completing an impulse c of (b) and the whole ascending zigzag(b) of [iv]. Right now, the price is finishing its descending correction [4] of c of (b) in the form of skewed triangle. If this assumption is correct, then after finishing this triangle, the market is expected to make the final ascending movement inside wave [5] of c of (b).



Our mid-term expectations haven’t changed so far. The market continues forming a descending correction [iv] of C, which may take the form of a running horizontal pattern. The pair is finishing its ascending zigzag(b) of [iv].

However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.

RoboForex Analytical Department