USDСAD: Elliott wave analysis and forecast for 02.08.24 – 09.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.3592 with a growth target of 1.4000 – 1.4200. A buy signal: after the level of 1.3592 is broken. Stop Loss: below 1.3500, Take Profit: from 1.4000 to 1.4200. Alternative scenario: breakout and consolidation below the level of 1.3592 will allow the pair to continue declining to the levels of 1.3352 – 1.3166. A sell signal: after the level of 1.3592 is broken. Stop Loss: above 1.3650,