Recap Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook A irregular down channel in place on 4 hour. This can extend the drop to B-1 / B-2 zone. If that results in a quick snap back above B-1, we have a go for B+1 and then Y+1.
Lawrence's Comment
Recap
Continuation drop turned into falling wedge and bottom out. Reversal forced a test of the crime scene of the breakdown. Closed the week below Y-1 and midpoint.
Outlook
B-1 ...
Lawrence's Comment
Recap
As mentioned last week, Y-1 rejected points to down trend invalidated. So this week we got a run back up to Y+1 to see if the other boundary can ...
Lawrence's Comment
Recap
Y-0 did not act as support at all on first test. This opened the door to Y-1 and the test of Y-1 led to a strong bounce. Closed the ...
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Lawrence's Comment
Recap
Bear flag continuation selloff as expected and tagged our downside target. Yet, Y-1 failed to hold the pair down leading to a bounce back upto B-0.
Outlook
A zoom ...
USDCAD Nov 17 to Nov 21 Outlook
Lawrence’s Comment
Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook
A irregular down channel in place on 4 hour. This can extend the drop to B-1 / B-2 zone. If that results in a quick snap back above B-1, we have a go for B+1 and then Y+1.
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