USDCAD: Elliott wave analysis and forecast for 08.04.2022 – 15.04.2022

Main scenario: consider short positions from corrections below the level of 1.2702 with a target of 1.2250 – 1.2024. 

Alternative scenario: breakout and consolidation above the level of 1.2702 will allow the pair to continue rising to the levels of 1.2870 – 1.3200.

Analysis: A descending correction appears to continue developing as the fourth wave 4 of larger degree on the daily chart, with wave (С) forming inside. The fifth wave 5 of (C) continues forming on the H4 chart, with wave iii of 5 unfolding inside. On the H1 chart, apparently, the third wave of smaller degree (iii) of… Read full author’s opinion and review in blog of #LiteFinance