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USDCAD, Elliot Wave Analysis
8/25/2022 10:57 AMA fall is possible.
On the weekly chart, the downward correctional wave of the higher level 4 develops, within which the wave (C) of 4 forms. Now, = the third wave 3 of (C) is developing, within which the first entry wave of the lower level (i) of i of 3 has formed, and a local correction is ending as the wave (ii) of i of 3. If the assumption is correct, after the end of the correction, the USD/CAD pair will fall to the area of 1.2010–1.1426. In this scenario, critical stop loss level is 1.3224.
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