USD/CAD met previous expectations of a run, smashing the expected target and closing above 1.23600 area. With that in mind, the weekly chart does show a and a pattern, however waiting till next weeks market open will likely give a more clear direction.
* false sell signal
* Day candle closes above 50% fib level ( previous candle)
* Weekly candle creating an (need to wait for market close to confirm this)
*Current market open is below key weekly found @ 1.23842
The above info does not supply enough evidence to warrant an entry (long or short), however IF USD/CAD fails to
close above this key weekly , expect a retest of the daily 38% fib level (1.22500 area) and possibly lower.
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