USDCAD Jul 08 to Jul 12 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidated around Y+1 until late in the week where it zoomed to new high for the week. Closed the week above Y+1 and midpoint.

Outlook
If it is going to breakout to the upside, it better happen now this week. The upside target is at least 1.08.

If Loonie drifts around this zone in tight range again, it can turn into breakout failure meaning a significant pullback to B-3 is possible.

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