nmike

USDCAD weekly Range Cloning analysis.....cautiously bearish

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
39
After a strong run up from hitting S3 trend line support UC went into a consolidation phase, a big red candle broke the range and price is now between S 1 and mid point of Clone (C). Price is currently holding at a minor support, a break below could see price fall to S1 support or bottom of Clone (C), a break above mid point of current Clone could see price hit top of Clone (C) near term.
Amazing that some of the Clone boundaries align with key pivots.

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