USDCAD: Elliott wave analysis and forecast for 17.12.21 – 24.12.21
Main scenario: consider long positions from corrections above the level of 1.2610 with a target of 1.3166 – 1.3382.
Alternative scenario: breakout and consolidation below the level of 1.2610 will allow the pair to continue declining to the levels of 1.2493 – 1.2384.
Analysis: A descending correction appears to have formed as the fourth wave 4 of a larger degree in the daily timeframe, with wave (С) of 4 completed inside, and an ascending wave 5 has started unfolding. In the H4 chart, a downward correction has completed as wave 2 of (1) of 5 and the third wave 3... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/jte4v
