Recap Y-0 acted as resistance gave us a go for the downside target of Y-2. Got my target and Loonie reacted to the level. Strong bounce took Loonie back up to Y-0 again. Closed the week below Y-1 and midpoint.
Outlook Loonie somehow detached its movement from gold partially. Someone clearly does not like Loonie to go below Y-2 based on the strong reaction there.
Holiday mode points to consolidation around B-0 likely for the coming 2 weeks.
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
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 Dec 16 to Dec 20 Outlook
Lawrence’s Comment
Y-0 acted as resistance gave us a go for the downside target of Y-2. Got my target and Loonie reacted to the level. Strong bounce took Loonie back up to Y-0 again. Closed the week below Y-1 and midpoint.
Outlook
Loonie somehow detached its movement from gold partially. Someone clearly does not like Loonie to go below Y-2 based on the strong reaction there.
Holiday mode points to consolidation around B-0 likely for the coming 2 weeks.
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