EWForecast
Short

$AUD/CAD Weekly Elliottwave: Multi month decline to 0.85

FX_IDC:AUDCAD   Australian Dollar/Canadian Dollar
37 0 1
Rally to 1.0783 completed wave ((w)) FLAT. Decline from wave ((w)) high is taking the form of a double correction (w)-(x)-(y). Wave (x) ended at 0.9175, wave (x) ended at 1.0349. Wave (y) of ((x)) is in progress with a multi-month target of 0.8336 - 0.8716. Wave (y) is unfolding in double corrective structure w-x-y where wave w is expected to complete at 0.9096 - 0.933, then the pair should bounce in wave x before another leg lower to complete (y) of ((x)) towards 0.8337 - 0.8716.

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