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GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 13, 2020

USD/CAD: wave analysis 13 February 2020, 08:45


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3254
Take Profit 1.3400, 1.3564
Stop Loss 1.3179
Key Levels 1.2950, 1.3026, 1.3179, 1.3400, 1.3564
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3175
Take Profit 1.3026, 1.2950
Stop Loss 1.3235
Key Levels 1.2950, 1.3026, 1.3179, 1.3400, 1.3564
The pair may grow.
On the daily chart, the formation of the downward correction of the higher level as the second wave (2) has completed and the development of the wave (3) has begun. At the moment, the first entry wave of the lower level (i) of i of 1 of (3) is being formed, as part of which the wave iii of (i) has completed and a local correction is developing as the wave iv of (i). If the assumption is correct, after it is finished, the growth of the pair will continue to the levels of 1.3400–1.3564. The level of 1.3179 is critical and stop loss for this scenario.


Main scenario
Long positions are relevant from the corrections above level of 1.3179 with targets at 1.3400–1.3564. Implementation time: 7 days and more.
Alternative scenario
Breaking down the level of 1.3179 and consolidation below it will allow the pair to continue reduction to the levels of 1.3026–1.2950.

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