Recap The expected retest of Y-0 gave us a zoom up to above Y+1. But the new high was rejected at once. Another move towards Y-0 was resulted. Closed the week below Y-0 and at week low.
Outlook FBO against Y+1 points to retest of Y-1. As long as B-0 acting as resistance, Y-1 retest likely.
The price action in both Aussie and Loonie are heavily related to gold price which showed early signs of a potential longer term bottom. If gold fails to hold up, it will take both metal currencies down quickly.
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
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 Nov 18 to Nov 22 Outlook
Lawrence’s Comment
The expected retest of Y-0 gave us a zoom up to above Y+1. But the new high was rejected at once. Another move towards Y-0 was resulted. Closed the week below Y-0 and at week low.
Outlook
FBO against Y+1 points to retest of Y-1. As long as B-0 acting as resistance, Y-1 retest likely.
The price action in both Aussie and Loonie are heavily related to gold price which showed early signs of a potential longer term bottom. If gold fails to hold up, it will take both metal currencies down quickly.
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