Steve Miley, MSTA
MarketChartist
A shift to a range theme on Tuesday with the probe below the 1.1266/62 area, but now a negative bias Friday and into next week after a bearish outside Thursday back from a poke at trend line resistance.
Range Parameters: We see the range defined by 1.1403 and the neckline at 1.1175.
Range Breakout Challenge - Upside: Above 1.1403 aims higher for 1.1450 and 1.1468.
Downside: Below 1.1175 sees risk lower for 1.1080 and 1.1053.
For Today: We see a downside bias for 1.1257; break here aims for 1.1235 and 1.1200. But above 1.1355 opens risk up through 1.1371 to 1.1385/94.
2 Hour USDCAD Chart
Daily USDCAD Chart
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