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.
Lawrence's Comment
Recap
As mentioned last week, double whiplash with breakout to the downside. Tagged downside target of Y-3. Closed the week near week low and above Y-3.
Outlook
Just got ...
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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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