USDCAD: Elliott wave analysis and forecast for 15.03.24 – 22.03.24

Main scenario: consider short positions from corrections below the level of 1.3604 with a target of 1.3170 – 1.2977. Alternative scenario: breakout and consolidation above the level of 1.3604 will allow the pair to continue rising to the levels of 1.3724 – 1.3857.Analysis: the ascending first wave of larger degree (1) is presumably formed on the daily chart, and a downside correction is unfolding as the second wave (2). Wave A of (2) and an ascending corrective wave B of (2) are