USD/CAD: Elliott Wave Analysis and Forecast for 07.11.25 – 14.11.25
Major Takeaways
Main Scenario: Consider long positions from corrections above the level of 1.3885 with a target range of 1.4316 to 1.4465.
- Buy Signal: The price holds above 1.3885.
- Stop Loss: Below 1.3885.
- Take Profit: Between 1.4316 and 1.4465.
Alternative Scenario: A breakout and consolidation below the level of 1.3885 will allow the pair to continue declining to the levels of 1.3570 to 1.3432.
- Sell Signal: The level of 1.3885 is broken to the downside.
- Stop Loss: Above 1.3885.
- Take Profit: Between 1.3570 and 1.3432.
Main Scenario
Consider taking long positions from corrections above the level of 1.3885, targeting a price move up to the range of 1.4316 to 1.4465.
Alternative Scenario
If there is a breakout and consolidation below the level of 1.3885, expect the USD/CAD pair to continue its decline toward the levels of 1.3570 to 1.3432.
Analysis
An ascending fifth wave of a larger degree 5 is presumably continuing to unfold on the weekly chart, with wave (1) of 5 already formed as part of this pattern. Currently, a bearish correction in the form of the second wave (2) of 5 is developing.
On the daily time frame, wave A of (2) has most likely been completed, and an upward correction is still underway in the form of wave B of (2), with wave c of B forming as part of this structure. On the H4 time frame, the third wave of a smaller degree, (iii) of c of B, appears to be unfolding.
If this Elliott Wave Theory-based presumption holds true, USD/CAD will continue to rise toward the levels of 1.4316 to 1.4465. However, the level of 1.3885 remains critical — a breakout below this point would open the path for the pair to decline further to the range between 1.3570 and 1.3432.
When developing trading strategies, it is essential to consider fundamental factors as well, since market conditions can change rapidly.
Note: The price chart of USD/CAD is observed in real-time mode.
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