FX.co ★ USD/CAD

Alternative Ascending Scenario (Daily, Part 3) Analyzing the USD/CAD currency market on the daily timeframe, we present an alternative scenario for the development of events. This scenario is based on a comprehensive multi-timeframe analysis, which includes: Elliott Wave Analysis (EWA): Studying wave patterns. MACD Indicator: Analyzing the histogram to determine the strength and direction of the trend. Exponential Moving Averages (MA Smoothed): Positioning of lines with periods of 55, 89, and 144 to identify trends. Based on the probability of technical and wave analysis models coming to fruition, we assume that a series of ascending impulses is currently forming, corresponding to the "first" and "second" waves according to Elliott.