USDCAD: Elliott wave evaluation and forecast for 12.08.2022 – 19.08.2022

USDCAD: Elliott wave evaluation and forecast for 12.08.2022 – 19.08.2022

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Major state of affairs: think about quick positions from corrections under the extent of 1.2983 with a goal of 1.2650 – 1.2540. 

Various state of affairs: breakout and consolidation above the extent of 1.2983 will permit the pair to proceed rising to the degrees of 1.3084 – 1.3220.

Evaluation: the primary wave of bigger diploma (1) of 5 is presumably growing on the each day chart, with wave 1 of (1) fashioned as its half. On the H4 chart, a descending correction is growing because the second wave 2 of (1), with wave b of two fashioned and wave c of two unfolding as its elements. Apparently, the third wave of smaller diploma (iii) of c is forming on the H1 chart, with wave iii of (iii) nearing completion as its half. If the presumption is appropriate, the pair will proceed to fall to the degrees of 1.2650 – 1.2540 as soon as the corrective wave iv of (iii) is accomplished. The extent of 1.2983 is vital on this state of affairs as a breakout will allow the pair to proceed rising to the degrees of 1.3084 – 1.3220.



Worth chart of USDCAD in actual time mode

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