USDCAD: Elliott wave analysis and forecast for 06.01.23 – 13.01.23
Main scenario: consider long positions from corrections above the level of 1.3452 with a target of 1.3975 – 1.4205. Alternative scenario: breakout and consolidation below the level of 1.3452 will allow the pair to continue declining to the levels of 1.3220 – 1.2947. Analysis: the fifth wave of larger degree 5 is presumably developing on the daily chart, with wave (3) of 5 forming as its part. The third wave 3 of (3) continues unfolding on the H4 chart, with wave iii of 3 and wave-shaped correction iv of 3 completed as its parts. The fifth wave v of 3... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 1.3452 with a target of 1.3975 – 1.4205.
Alternative scenario: breakout and consolidation below the level of 1.3452 will allow the pair to continue declining to the levels of 1.3220 – 1.2947.
Analysis: the fifth wave of larger degree 5 is presumably developing on the daily chart, with wave (3) of 5 forming as its part. The third wave 3 of (3) continues unfolding on the H4 chart, with wave iii of 3 and wave-shaped correction iv of 3 completed as its parts. The fifth wave v of 3... Read full author’s opinion and review in blog of #LiteFinance
