USD/CAD Seen Falling to 1.3900 Below 1.4082, Rising to 1.4400 on Breakout

1 articles · Updated · litefinance.org · Aug 7

USD/CAD is forecast to drop toward 1.3900-1.3820 if corrective rebounds stay capped below 1.4082, with the report favoring short positions under that level.
1.4082 is the key trigger: holding below it keeps the bearish setup intact, while a breakout and consolidation above it would shift the outlook to 1.4250-1.4400.
Stops are set above 1.4125 for the short scenario and below 1.4040 for the bullish alternative, framing the near-term trading range around the pivot.
Elliott Wave analysis on weekly to H4 charts underpins the call, though the report says fundamental factors could still alter the setup.