USDCAD: Elliott wave analysis and forecast for 30.04.21 – 07.05.21

Main scenario: consider short positions from corrections below the level of 1.2652 with a target of 1.2150 – 1.2000.

Alternative scenario: breakout and consolidation above the level of 1.2652 will allow the pair to continue rising to the levels of 1.2857 – 1.2989.

Analysis: wave (С) of 4 of larger degree continues developing on the daily time frame, with the third wave 3 of (C) forming inside. The fifth wave v of 3 is forming on the H4 time frame, with wave (v) of v of smaller degree developing inside. Apparently, the third wave iii of (v) is developing on… Read full author’s opinion and review in blog of #LiteForex