USDCAD Nov 19 to Nov 23 Outlook

Recap
Did not comment on this pair last week somehow. The spike low last week is a rejection so the normal expectation is to get Y+2 and higher. However, the pair was trapped right below Y+1 all week. The spike up at the end of the week failed to create a breakout. Closed the week below Y+1.

Outlook
Staying below Y+1 is a sign of weakness. Spike high end of the week led to a FBO so pull back to B-2 / Y-0 likely.