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USD/CAD: wave analysis on 10.08.2015

An upward trend is strong.

Assumingly, the third wave of the senior level iii of 5 continues forming, within which an impetus extension is forming. Locally, the third wave of the junior level (iii) seemed to have finished and a correction in a form of wave (iv) is forming. If the assumption is correct, the pair continues growing towards 1.3400 after the correction is over. A critical for this scenario is the level of 1.2857.

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