USDCAD: Elliott wave analysis and forecast for 06.10.23 – 13.10.23

Main scenario: consider short positions from corrections below the level of 1.3863 with a target of 1.3090 – 1.2778.

Alternative scenario: breakout and consolidation above the level of 1.3863 will allow the pair to continue rising to the levels of 1.4100 – 1.4300.

Analysis: wave (В) of 4 is presumably completed in the daily chart. Wave (С) of 4 is unfolding, with wave 3 of (C) continuing to form as its part. The first wave i of 3 is formed in the H4 chart, and a local correction finished developing as the second wave ii of 3. The third wave… Read full author’s opinion and review in blog of #LiteFinance