Correction is completed, the pair USD/CAD is likely to continue growing. Estimated pivot point is at a level of 1.3013.
Main scenario: long positions will be relevant from corrections above the level of 1.3013 with a target of 1.3294 – 1.3360.
Alternative scenario: Breakout and consolidation below the level of 1.3013 will allow the pair to continue declining to the levels of 1.2910 – 1.2797.
Analysis: Supposedly, a descending correction finished developing on the D1time frame in the form of the second wave of senior level (2). The wave C of (2) stopped developing as an impetus on the H4 time frame. Apparently, the wave (3) starts developing on the H1 time frame, with the first counter-trend wave of junior level (i) of i of 1 of (3) forming inside. If the presumption is correct, the pair will continue to rise to the levels 1.3294 – 1.3360. The level 1.3013 is critical in this scenario.