USDСAD: Elliott wave analysis and forecast for 26.07.24 – 02.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.3583 with a target of 1.4000 – 1.4200. A buy signal: after the level of 1.3583 is broken. Stop Loss: 1.3500; Take Profit: 1.4200. Alternative scenario: breakout and consolidation below the level of 1.3583 will allow the pair to continue declining to the levels of 1.3352 – 1.3166. A sell signal: after the level of 1.3583 is broken. Stop Loss: 1.3650; Take Profit: 1.3166.Main scenario