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USD/CAD: wave analysis on 11.11.2015

An upward correction is nearing the end.

Wave A of 4 continues forming, within which wave b of A seems to be nearing the end. Assumingly, a Bearish impetus is developing within wave (c) of b, and if the assumption is correct, a decline within wave c of A is to be expected after the impetus has finished developing. A critical for this scenario is the level of 1.3234 the breakdown of which would lead to a decline to 1.3100-1.3000.

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