USDCAD: Elliott wave analysis and forecast for 25.09.20 – 02.10.20

Main scenario: consider long positions from corrections above the level of 1.3139 with a target of 1.3500 – 1.3629.

Alternative scenario: breakout and consolidation below the level of 1.3139 will allow the pair to continue declining to the levels of 1.2990 – 1.2900.

Analysis: Wave (С) of 4 of larger degree continues developing on the daily time frame, with the first wave 1 of (C) formed inside. An ascending correction started developing as wave 2 of (С) on the H4 time frame, with wave a of 2 forming inside. Apparently, the third wave of smaller degree (iii) of a formed…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>