USD/СAD: Elliott wave analysis and forecast for 05.07.24 – 12.07.24

Key takeaways Main scenario: consider short positions from a correction below the level of 2370.00 with a target of 2218.46 – 2161.56. A sell signal: after the level of 2370.00 is broken. Stop Loss: 2450.00, Take Profit: 2161.56. Alternative scenario: breakout and consolidation above the level of 2370.00 will allow the pair to continue rising to the levels of 2500.00 – 2560.00. A buy signal: after the level of 2370.00 is broken. Stop Loss: 2300.00, Take Profit: 2560.00.Main scenarioC