The price is in correction, the probability of growth remains.

On the daily chart, the correction forming the second wave of the senior degree (2) has been completed, and the ascending third wave (3) is currently developing, with the first wave of the junior degree 1 within (3) continuing to unfold. On the four-hour chart, wave iii of 1 has been completed, and the corrective wave iv of 1 is approaching completion. If this scenario proves correct, the USD/CAD pair’s upward trend is expected to continue toward the 1.4540–1.4790 area, with a critical stop loss level at 1.3900.

During the morning session, the USD/CAD pair is developing a “bullish” momentum formed at the beginning of the week and testing the 1.4100 level, demonstrating the most noticeable growth over the past few weeks.

Against the volatile dynamics of the American currency, the USD/CAD pair is correcting at the level of 1.4075, supported by June inflation statistics from Canada.

The USD/CAD pair has been actively declining for the third consecutive week, reaching 1.4000 amid the strengthening of the Canadian dollar as a result of renewed oil price increases following heightened geopolitical tensions in the Gulf region.