Recap Target of 1.20 tagged early in the week. Then SNB mess sent this back down to Y-0 support. A squeeze was launched with parabolic target at Y+3 tagged by the end of the week. Closed the week near Y+2 and above midpoint.
Outlook 1.20 is long term parking zone. It will be difficult to see much more up side from here until we see some consolidation / pullback on weekly. This week consolidation at 50% range around close is likely.
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Lawrence's Comment
Recap
All week consolidation at around 50% previous week range. After NFP euro pushed higher back up to near Y-0. Closed the week below Y-0 and above midpoint.
Outlook
No strong directional ...
USDCAD Jan 19 to Jan 23 Outlook
Lawrence’s Comment
Target of 1.20 tagged early in the week. Then SNB mess sent this back down to Y-0 support. A squeeze was launched with parabolic target at Y+3 tagged by the end of the week. Closed the week near Y+2 and above midpoint.
Outlook
1.20 is long term parking zone. It will be difficult to see much more up side from here until we see some consolidation / pullback on weekly. This week consolidation at 50% range around close is likely.
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