USDCAD Jul 04 to Jul 08 Outlook

By News Robot

Lawrence’s Comment

Recap
As oppose to holding above Y-0. Canadian dollar moved with its other metal currency pairs gaining strength over USD.

The failure to hold above Y-0 points to the target of Y-2 in play according to STOPD and it played out as expected.

Outlook
Since loonie is moving with its metal complex, it means it is a pure gold/oil play reflected in these currencies. Focus on gold for the direction of loonie in this week.

The first likely bottom is Y-3 early in the week.

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