USDCAD is turning higher as expected after a completed five waves down from 1.4017 that we see it as wave 3 or C. We know that after a five wave move pair will make a reversal with three waves, usually back into the area of a former wave four which in our case comes in at 1.3406. As such, there is room for much higher levels, even if bounce is going to be corrective. That said, current leg still represents wave A) within a minimum three wave recovery.
USDCAD, 4H
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