USD/CAD: Elliott wave analysis and forecast for 03.10.25 – 10.10.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 1.3763 with a target of 1.4168 – 1.4316. A buy signal: the price holds above 1.3763. Stop Loss: below 1.3700, Take Profit: 1.4168 – 1.4316.
- Alternative scenario: Breakout and consolidation below the level of 1.3763 will allow the pair to continue declining to the levels of 1.3538 – 1.3425. A sell signal: the level of 1.3763 is broken to the downside. Stop Loss: above 1.3820, Take Profit: 1.3538 – 1.3425.
Main Scenario
Consider long positions from corrections above the level of 1.3763 with a target of 1.4168 – 1.4316.
Alternative Scenario
Breakout and consolidation below the level of 1.3763 will allow the pair to continue declining to the levels of 1.3538 – 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) is most likely completed, and an upward correction is developing as wave B of (2), with wave c of B forming as its part. On the H4 time frame, the first wave of smaller degree (i) of c of B appears to have formed.
If this assumption is correct, then after the completion of a local correction as the second wave (ii) of c of B, USD/CAD will continue rising toward the 1.4168 – 1.4316 area. The level of 1.3763 is critical in this scenario, as a breakout below it would allow the pair to decline to 1.3538 – 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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