USDCAD: Elliott wave analysis and forecast for 14.07.23 – 21.07.23

Main scenario: consider short positions from corrections below the level of 1.3380 with a target of 1.2778 – 1.2600. 

Alternative scenario: breakout and consolidation above the level of 1.3380 will allow the pair to continue rising to the levels of 1.3665 – 1.3856.

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. On the H1 time frame chart, a… Read full author’s opinion and review in blog of #LiteFinance