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USDCAD, Elliot Wave Analysis

12/1/2022 10:36 AM

Growth is possible.

On the daily chart, the upward fifth wave of the higher level 5 develops, within which the wave (3) of 5 forms. Now, the third wave of the lower level 3 of (3) has formed, a local correction ha ended as the fourth wave 4 of (3), and the wave 5 of (5) is developing, within which the wave i of 5 is forming. If the assumption is correct, the USD/CAD pair will grow to the area of 1.3820–1.3978. In this scenario, critical stop loss level is 1.3314.


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