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    USD/CAD: wave analysis on 01.02.2016

    A downward trend is strong.

    Assumingly, a downward zigzag within a large Bearish correction continues forming. Locally, the fifth wave (c) seems to be developing and if the assumption is correct, the pair continues falling towards the level of 1.3800. Critical for this scenario is the level of 1.4109, a breakout of which would allow the pair to grow to 1.4400.

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