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USDCAD, Elliot Wave Analysis

8/31/2022 11:38 AM

A 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 has ended as the wave (ii) of i of 3. If the assumption is correct, the USD/CAD pair will fall to the area of 1.2374–1.2010. In this scenario, critical stop loss level is 1.3224.









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