Wave analysis and forecast USDCAD: Downtrend continues.
![](//www.dukascopy.com/imageserver/img/78e3c7b2d8ed306a37f37e1b6d7e62e4/500_2/image.jpg)
![](//www.dukascopy.com/imageserver/img/98316be4d14f8627912ea8464352aabf/500_2/image.jpg)
Estimated pivot point is at the level of 1.3347.
Analysis: Supposedly, a descending impetus continues to develop within the 4-hour time frame in a form of the first wave i of C. Apparently, the third wave of junior level (iii) continues to form locally. If the presumption is correct, the pair will go on descending to the levels 1.3000 - 1.2964.
![](http://www.dukascopy.com/imageserver/img/78e3c7b2d8ed306a37f37e1b6d7e62e4/500_2/image.jpg)
![](http://www.dukascopy.com/imageserver/img/98316be4d14f8627912ea8464352aabf/500_2/image.jpg)
Estimated pivot point is at the level of 1.3347.
Analysis: Supposedly, a descending impetus continues to develop within the 4-hour time frame in a form of the first wave i of C. Apparently, the third wave of junior level (iii) continues to form locally. If the presumption is correct, the pair will go on descending to the levels 1.3000 - 1.2964.