Fast forward a few hours later and here we have a much, improved and much more USEFUL with the B point firmly in place and the C point potentially established. I've filled in more details and as you can see, this would terminate very close to the TP1. Further cementing the point I made earlier in my analysis about this pair (see "Related Ideas: USDCAD: So You Wanna Go SHORT? B4 You Do, You Should Know...") that should prices reach TP1, I think that will complete the retracement and begin wave ( iii ) up past the recent highs.
For some perspective about where this fits in the greater scheme of things in regards to the , here's a showing the .