Current sharp turn down from around 1.3000 region can be the first evidence of a completed five-wave recovery, and for a new three-wave pause to be in progress. As such we think first wave a can be underway, which can later be followed by waves b and c. Support for the whole three-wave correction may later be seen around the Fibonacci ratio of 38.2/50.0.
USD/CAD, 1h
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