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USDCAD, Elliot Wave Analysis

3/1/2023 10:18 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, a downward correction has ended as the fourth wave 4 of (3), and the wave 5 of (3) is forming, within which the first wave of the lower level i of 5 is developing. If the assumption is correct, the USD/CAD pair will grow to the area of 1.3850–1.3977. In this scenario, critical stop loss level is 1.3440.




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