USDCAD: Elliott wave evaluation and forecast for 19.08.22 – 26.08.22

USDCAD: Elliott wave evaluation and forecast for 19.08.22 – 26.08.22

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Predominant situation: take into account brief positions beneath the extent of 1.3046 with a goal of 1.2650 – 1.2540 as soon as the correction is accomplished. 

Different situation: breakout and consolidation above the extent of 1.3046 will enable the pair to proceed rising to the degrees of 1.3220 – 1.3316.

Evaluation: the primary wave of bigger diploma (1) of 5 is presumably creating on the every day chart, with wave 1 of (1) fashioned as its half. On the H4 chart, a descending correction is creating because the second wave 2 of (1), with wave b of two fashioned and wave c of two unfolding as its elements. Apparently, the primary wave of smaller diploma (i) of c has fashioned on the H1 chart, and an area correction is coming to its finish because the second wave (ii) of c. Upon its completion, if the presumption is right, the pair will proceed falling to the degrees of 1.2650 – 1.2540. The extent of 1.3046 is crucial on this situation as a breakout will allow the pair to proceed rising to the degrees of 1.3220 – 1.3316.



 

Value chart of USDCAD in actual time mode

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