USDCAD: Elliott wave analysis and forecast for 23.02.24 – 01.03.24

Main scenario: consider short positions from corrections below the level of 1.3536 with a target of 1.3170 – 1.2977. Alternative scenario: breakout and consolidation above the level of 1.3536 will allow the pair to continue rising to the levels of 1.3623 – 1.3724.Analysis: the bullish first wave of larger degree (1) is presumably formed on the daily time frame, with the fifth wave 5 of (1) completed as its part. On the H4 chart, a descending correction continues developing as th