USDCAD: Elliott wave analysis and forecast for 30.06.23 – 07.07.23

Main scenario: consider short positions from corrections below the level of 1.3288 with a target of 1.3007 – 1.2778.

Alternative scenario: breakout and consolidation above the level of 1.3288 will allow the pair to continue rising to the levels of 1.3564 – 1.3665.

Analysis: the third wave of larger degree 3 is presumably formed on the weekly chart, and a bearish correction is developing as the fourth wave 4. Wave (В) of 4 is completed on the daily chart. Wave (С) of 4 is unfolding, with wave 3 of (C) continuing forming as its part. Apparently, the third wave of… Read full author’s opinion and review in blog of #LiteFinance