USDCAD: Elliott wave analysis and forecast for 15.04.2022 – 22.04.2022

Main scenario: consider long positions from corrections above the level of 1.2394 with a target of 1.2976 – 1.3200. 

Alternative scenario: breakout and consolidation below the level of 1.2394 will allow the pair to continue declining to the levels of 1.2250 – 1.2024. 

Analysis: on the daily chart, supposedly, a downward correction is completed as the fourth wave 4 of larger degree, and the fifth wave 5 has started to form, with wave1 of (1) of 5 developing inside. A corrective wave iv of 1 finished forming on the H4 chart, and wave v of 1 started developing. Apparently, the first… Read full author’s opinion and review in blog of #LiteFinance