USD/СAD: Elliott wave analysis and forecast for 12.07.24 – 19.07.24

Key takeaways Main scenario: consider short positions from corrections below the level of 1.3755 with a target of 1.3352 – 1.3166. A sell signal: after the level of 1.3755 is broken. Stop Loss: 1.3850, Take Profit: 1.3166. Alternative scenario: breakout and consolidation above the level of 1.3755 will allow the pair to continue rising to the levels of 1.4000 – 1.4200. A buy signal: after the level of 1.3755 is broken. Stop Loss: 1.3650, Take Profit: 1.4200.Main scenarioConsider short