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USD/CAD - bullish on daily, Scary on weekly

FX_IDC:USDCAD   US DOLLAR / CANADIAN DOLLAR
As pointed a week ago, USD/CAD             turned higher from near Leg D (78.6%) of Cypher on the daily chart.

The pair has completed 38.2% retracement of CD and could move to 61.8% as there is scope for further correction in WTI oil             .

Meanwhile, on the right hand side, we see weekly chart which shows head and shoulder pattern with neckline support at 1.24-1.2350 levels. A bearish break below the same would open doors for a sell off to 1.15. This is a scary scenario for CAD bears/USD bulls.
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