USDCAD: WEEKLY CHART

In this weekly chart, I zoom into the wave (3) and break down the sub-waves to see where it might end.

WAVE COUNT
My wave count has this pair now in the wave 5 of (3) and nearing the ending of that wave 5. Currently, it is hitting the 1.414 extension level. I believe the wave 5 should end at the 1.618 golden ratio extension which also is near the .707 retracement level of the previous downtrend.

PATTERNS
In this weekly chart, the dominant pattern in play at the moment is a POSSIBLE Cypher whose C point is in question right now. The cypher C point is already valid but a rise and close above 1.37350 will invalidate it.