USDCAD: Elliott wave analysis and forecast for 24.11.23 – 01.12.23

Main scenario: consider long positions from corrections above the level of 1.3630 with a target of 1.4100 – 1.4300.

Alternative scenario: breakout and consolidation below the level of 1.3630 will allow the pair to continue declining to the levels of 1.3493 – 1.3395.

Analysis: the bullish first wave of larger degree (1) is presumably developing on the daily time frame, with the fifth wave 5 of (1) forming as its part. The first wave of smaller degree i of 5 is developing on the H4 time frame, with wave (iii) of i completed as its part. On the H1 time… Read full author’s opinion and review in blog of #LiteFinance