USDCAD: Elliott wave analysis and forecast for 05.11.2021 – 12.11.2021
Main scenario: consider long positions from corrections above the level of 1.2298 with a target of 1.2647 – 1.2773.
Alternative scenario: breakout and consolidation below the level of 1.2298 will allow the pair to continue declining to the levels of 1.2150 – 1.2006.
Analysis: A descending correction appears to have formed as the fourth wave 4 of larger degree on the daily chart, with wave (С) of 4 completed and wave 5 unfolding inside. H4 chart: wave 1 of (1) of 5 is formed, and a downward correction is presumably completed as wave 2 of (1) of 5. Apparently, the... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/j1XK0
