USDCAD: Elliott wave analysis and forecast for 07.07.2023 – 14.07.2023

Main scenario: consider short positions below the level of 1.3446 with a target of 1.3007 – 1.2778 once a correction is completed.

Alternative scenario: breakout and consolidation above the level of 1.3446 will allow the pair to continue rising to the levels of 1.3564 – 1.3665.

Analysis: wave (В) of 4 is presumably completed on the daily chart. Wave (С) of 4 is unfolding, with wave 3 of (C) continuing forming as its part. The third wave of smaller degree iii of 3 is developing on the H4 chart, with wave (i) of iii formed inside. Apparently, a local correction… Read full author’s opinion and review in blog of #LiteFinance