USD/CAD Elliott Wave Analysis
USD/CAD is inversely correlated with oil prices, as Canada is a major oil exporter. It often trends for extended periods when oil markets are directional.
USD/CAD shows clean impulse waves during oil market trends. Corrective structures tend to form triangles in Wave 4, providing clear breakout setups for Wave 5 entries.
Key levels at 1.3000, 1.3500, 1.3800, 1.4000. Oil price correlation is strongest on weekly timeframes.
Always check oil (WTI) wave counts alongside USD/CAD. Divergence between the two often signals a reversal.
H4 Wave Count
4-hour timeframe for precise entry timing
Daily Wave Count
Primary trading timeframe structure
Weekly Wave Count
Macro context and trend direction
Fibonacci Targets
Precise price targets from wave structure
Invalidation Levels
Exact price where the count is wrong
Alternative Scenario
What happens if the primary count fails
Get Daily USD/CAD Analysis
Updated before London open, every trading day. H4, Daily, and Weekly wave counts with precise Fibonacci targets.