USDCAD Jan 06 to Jan 10 Outlook

Recap
Opened strong challenging Y+1 but failed to go higher. That opened the door to other extreme at Y-1. Dropped down to almost there at 100% absolute range expansion and found support again. Closed the week below Y-0 and midpoint.

Outlook
3rd week where midpoint stays at the same price level. Either Loonie has reached equilibrium here or it is a compression. For both cases we have to wait for a breakout at 4 hour or higher timeframe before we can jump in for a directional ride.