Recap The march towards 1.28 was realized last week. Very strong reactions there with rumours that central banks intervened. But Y+1 acted as support leading to another rush to 1.28. Closed the week above Y+2 and midpoint.
Outlook Monthly level multiple year high are not easily cleared or rejected in a week or two. It is a process of struggle among all participants. If Loonie continues to hang in this zone in coming few weeks, it is a sign that the zone is accepted with more upside coming.
Lawrence's Comment
Recap
Easy play of the week. Broke Y-1 and then flush to Y-3 target as expected. Closed the week above Y-3 and below midpoint.
Outlook
1.35 has been long term support for ...
Simplex was created along with several other models long time ago to provide daily guidelines to a group of forex traders who worked with me long time ago. These models ...
USDCAD Mar 16 to Mar 20 Outlook
Lawrence’s Comment
The march towards 1.28 was realized last week. Very strong reactions there with rumours that central banks intervened. But Y+1 acted as support leading to another rush to 1.28. Closed the week above Y+2 and midpoint.
Outlook
Monthly level multiple year high are not easily cleared or rejected in a week or two. It is a process of struggle among all participants. If Loonie continues to hang in this zone in coming few weeks, it is a sign that the zone is accepted with more upside coming.
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