Recap Strength in gold helping to push this pair lower. Resistance at 1.08 was not even challenged. Y-1 resistance gave way to Y-2 target. Closed the week below Y-2 and at week low.
Outlook A flush through B-1 down to B-2 / Y-3 with a snap back up above B-1 is sign of temporary bottom. It will likely lead to retest of B+1.
Holiday week for Canada thus slow down in overall activities in Loonie is expected.
Lawrence's Comment
Recap
Another one played out as expected. Bounce from Y-0 was weak and as expected could not even get close to Y+1. Sold off down to near Y-1 and bounced. ...
Lawrence's Comment
Recap
Y-0 acted as support helping euro to clear Y+1 in 1 go. Y+2 tagged and Y+1 turned into support for breakout play towards Y+3. Y+4 tagged and stopped the ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
USDCAD Jun 30 to Jul 04 Outlook
Lawrence’s Comment
Strength in gold helping to push this pair lower. Resistance at 1.08 was not even challenged. Y-1 resistance gave way to Y-2 target. Closed the week below Y-2 and at week low.
Outlook
A flush through B-1 down to B-2 / Y-3 with a snap back up above B-1 is sign of temporary bottom. It will likely lead to retest of B+1.
Holiday week for Canada thus slow down in overall activities in Loonie is expected.
Share