USD/СAD: Elliott wave analysis and forecast for 22.08.25 – 29.08.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 1.3777 with a target of 1.4018 – 1.4168. A buy signal: the price holds above 1.3777. Stop Loss: below 1.3720, Take Profit: 1.4018 – 1.4168.
- Alternative scenario: Breakout and consolidation below the level of 1.3777 will allow the pair to continue declining to the levels of 1.3570 – 1.3425. A sell signal: the level of 1.3777 is broken to the downside. Stop Loss: above 1.3820, Take Profit: 1.3570 – 1.3425.
Main Scenario
Consider long positions from corrections above the level of 1.3777 with a target of 1.4018 – 1.4168.
Alternative Scenario
Breakout and consolidation below the level of 1.3777 will allow the pair to continue declining to the levels of 1.3570 – 1.3425.
Analysis
An ascending fifth wave of larger degree 5 presumably continues unfolding on the weekly chart, with wave (1) of 5 formed as its part. A bearish correction is developing in the form of the second wave (2) of 5. On the daily time frame, wave A of (2) has apparently formed, and an upward correction is unfolding as wave B of (2), with wave a of B forming as its part. On the H4 time frame, the third wave of smaller degree (iii) of a appears to continue developing, with wave iii of (iii) forming within it. If the presumption is correct, the USD/CAD pair will continue to rise to the levels of 1.4018 – 1.4168. The level of 1.3777 is critical in this scenario, as a breakout below it would allow the pair to decline to 1.3570 – 1.3425.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USDCAD in real time mode
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