USDCAD May 16 to May 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation at 50% range found support above Y-0 and sent this back up to Y+1. Closed the week near Y+1 and above midpoint.

Outlook
Y+1 resistance points to potential bull flag on 4 hours until higher timeframes catch up with the trend change. Clearing B+1 quickly points to melt up play for Y+2 above.

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