USDCAD: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023
Main scenario: consider long positions above the level of 1.3230 with a target of 1.3975 – 1.4205 once a correction is formed. Alternative scenario: breakout and consolidation below the level of 1.3230 will allow the pair to continue declining to the levels of 1.2946 – 1.2729. 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 correction iv of 3 completed as its parts. The fifth wave v... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 1.3230 with a target of 1.3975 – 1.4205 once a correction is formed.
Alternative scenario: breakout and consolidation below the level of 1.3230 will allow the pair to continue declining to the levels of 1.2946 – 1.2729.
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 correction iv of 3 completed as its parts. The fifth wave v... Read full author’s opinion and review in blog of #LiteFinance
