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USD/CAD: wave analysis on 29.06.2015

The pair is expected to grow.

Supposedly, a local bearish correction in a form of the second wave ii shaped like a zigzag has finished forming. Apparently, the third wave of senior level, within which the first counter-trend wave (i) of iii has formed, has started developing locally along with a local correction in the form of wave (ii). If the presumption is correct, after correction, the pair will continue to grow to a level at 1.2800. The level of 1.2123 is critical in this scenario as the breakout will enable the pair to continue declining to a level of 1.2000.

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