EnglishMyanmar (Burmese)

USDCAD: Elliott wave analysis and forecast for 28.01.22 – 04.02.22.

Main scenario: consider short positions from corrections below the level of 1.2967 with a target of 1.2024 – 1.1408. 

Alternative scenario: breakout and consolidation above the level of 1.2967 will allow the pair to continue rising to the levels of 1.3424 – 1.3727.

Analysis: A descending correction appears to continue developing as the fourth wave 4 of larger degree on the daily chart, with wave (С) forming inside. An ascending correction finished developing as the fourth wave 4 of (C), and the fifth wave 5 of (C) started forming on the H4 chart. Apparently, the first wave of smaller degree i of 5 is formed and a local correction ii of 5 is coming to an end on the H1 chart. If the presumption is correct, the pair will continue falling to the levels of 1.2024 – 1.1408 after the correction is over. The level of 1.2967 is critical in this scenario as a breakout will enable the pair to continue rising to the levels of 1.3424 – 1.3727.

LiteFinance: USDCAD: Elliott wave analysis and forecast for 28.01.22 – 04.02.22. | Litefinance

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.