Coming back to the USD/CAD pair, I believe a correction is due and only then it would be reasonable to re-consider to enter long from the risk/reward point of view, in my opinion. I believe there is a great deal of bull potential in this pair once a correction is done.
Also note that I never try to place a definite point for the end of any wave in my analysis. I usually place the end of 5th wave somewhere in the vicinity of a major resistance of support as no one really knows where the wave will end (i.e. a 3rd wave could turn into an extended wave or 5th wave could be as long as the 3rd in some rare cases). So once again, I believe that Technical Analysis is not a pure science but rather an art form.
Regards and good trading