EURCAD 4H Elliott Wave Forecast

Following a robust bullish impulsive wave, potentially representing wave 3 of wave (1)/(A), the price has entered a sideways range that could result in the formation of a triangle pattern. If it cross the high of D wave , we anticipate another bullish wave, likely driving the price to the upside to establish a new high above the 1.6000 level, ideally targeting the 1.62962 area. A decisive break through of the triangle (as illustrated on the chart) will confirm the bullish scenario. After this key level is broken through, we can set the invalidation at the 1.555364 level.