USDCAD: Elliott wave analysis and forecast for 13.10.23 – 20.10.23

Main scenario: consider short positions from corrections below the level of 1.3785 with a target of 1.3090 – 1.2778. 

Alternative scenario: breakout and consolidation above the level of 1.3785 will allow the pair to continue rising to the levels of 1.4100 – 1.4300.

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 first wave i of 3 is formed on the H4 chart, and a correction finished developing as the second wave ii of 3. Apparently, the third wave iii… Read full author’s opinion and review in blog of #LiteFinance