USDCAD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23
Main scenario: consider long positions from corrections above the level of 1.3335 with a target of 1.3858 – 1.4054.
Alternative scenario: breakout and consolidation below the level of 1.3335 will allow the pair to continue declining to the levels of 1.3194 – 1.3007.
Analysis: the fifth wave of larger degree 5 is presumably developing on the daily chart, with wave (3) of 5 forming as its part. The third wave 3 of (3) is formed on the H4 chart, and a correction is completed as the fourth wave 4 of (3). Apparently, the fifth wave 5 of (3) started forming... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3nUMAdD
