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USDCAD D1 correction/ascending wedge

FX:USDCAD   U.S. Dollar / Canadian Dollar
Ascending wedge after a 5 wave trend. What do you think of my analysis or the outcome? D1 price action is rather influenced by macroeconomics, which I'm not as familiar with as I should be. This is the reason why I mostly stick to the smaller ones. On the technical side, I'm expecting a breakout to the downside, but what do you think about the fundamental outlook?
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