USDCAD: Elliott wave analysis and forecast for 11.12.2020 – 18.12.2020

Main scenario: consider short positions from corrections below the level of 1.2900 with a target of 1.2600 – 1.2400.

Alternative scenario: breakout and consolidation above the level of 1.2900 will allow the pair to continue rising to the levels of 1.3172 – 1.3301.

Analysis: Daily time frame: wave (С) of 4 of larger degree continues developing, with the first wave 1 of (C) and correction 2 of (C) formed inside. On the H4 time frame, the third wave 3 of (C) is forming. Inside it, there is a wave of smaller degree iii of 3 forming. On the H1 time… Read full author’s opinion and review in blog of #LiteForex