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Elliott Wave Charting: Usd/Cad Down-trend

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Elliott Wave Charting: Usd/Cad

The down-trend on Usd/Cad remains unfinished, as the pair looks to be forming an extended structure in a red wave 5). An extended structure means that five black sub-waves in a red wave 5) need to be shown, before a turning point may appear. Wave 5) is a motive wave where an impulsive structure or ending diagonal can be seen. 

A move down, towards the 1.0070 and 1.0000 region could be reached over the next few session or days.

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