Looks like we can be getting up for a short on Usdcad-0.15% if we break under bottom support (which we can easily do) and it can run pretty far down if oil continues its sell off.
There is also a possible Breakout long if you want to wait for it to break an consolidate over the top support line.
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Remember, if you break a support/resistance it is not uncommon for it to retest the level and even close above or below it briefly before starting on its breakout.
This post first appeared on Trading Blogs And Financial Markets Analysis, please read the originial post: here
