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    USD/CAD: wave analysis on 22.01.2016

    A decline within a correction is expected.

    Assumingly, an upward impulse in the fifth wave of the senior level v of 5 of (3) has finished forming. Locally, a Bearish correction seems to have started developing, within which, assumingly, a staring impulse in wave (a) is forming. If the assumption is correct and the price does not break out the critical level of 1.4683, a decline to 1.3800 should be expected.

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