Forecast USD / CAD on 04/20 – 04/24/2020

<p>Analysis: within the daily timeframe, presumably, the formation of a downward correction as the second wave of the senior level (2) has completed and the development of the wave (3) has begun. On the 4-hour timeframe, the first entry wave of the junior level 1 of (3) was formed and a downward correction as the wave of 2 of (3) is developing. Apparently, the wave a of 2 is formed within the hourly timeframe and wave b of 2 is developing. If the assumption is correct, then after the completion of wave b of 2, the pair will continue to decline to 1.3788 – 1.3598. Critical to this scenario is the level of 1.4355, a breakdown of which will allow the pair to continue to grow to marks 1.4562 – 1.4800. </p>
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<p> The main scenario: “short positions” are relevant from corrections below the level of 1.4355 with the target of 1.3788 – 1.3598. </p>