Recap Strong support at Y-1 sent this back up to Y-0. 2nd attempt to push this down to Y-1 met with stronger buying still. Y-0 cleared and Y+1 tagged. Closed the week above Y+1 and near week high.
Outlook Outside reversal week with strong close is bullish. A push towards B+2 is likely.
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Lawrence's Comment
Recap
Tight range consolidation before FOMC announcement. After that, spike high to test Y-0 and failed to clear it. Fell hard down to Y-2 before finding support. Closed the week ...
USDCAD Nov 09 to Nov 13 Outlook
Lawrence’s Comment
Strong support at Y-1 sent this back up to Y-0. 2nd attempt to push this down to Y-1 met with stronger buying still. Y-0 cleared and Y+1 tagged. Closed the week above Y+1 and near week high.
Outlook
Outside reversal week with strong close is bullish. A push towards B+2 is likely.
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