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Lawrence's Comment 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 ...READ MORELawrence's Comment Recap Similar to Dow, ES moving lower as expected. Tagging both 1st target of Y-2 and 2nd target of Y-3 in one go was a present surprise. The bounce ...READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREUSDCAD Dec 16 to Dec 20 OutlookWeekly Cycle Projection (USDCAD) 2016-06-20S&P 500 Apr 16 to Apr 20 Outlook3DP Odds Table (USDCAD) 2023-05-02Intraday Cycle Projection (USDCAD) 2016-05-16Precog Vision – Forex 2018-12-25Hot n Cold (USDCAD) 2013-2-1Intraday Cycle Projection (USDCAD) 2012-12-28Weekly Cycle Projection (USDCAD) 2014-03-24Precog Vision – Forex 2013-9-5
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USDCAD Jul 18 to Jul 22 Outlook
Lawrence’s Comment
Multiple news shocks caused both Loonie and Aussie to swing wildly. This week is a good example showing that when the participants are more emotional, you get the more natural Fibonacci price level of 1.618. That happened in the beginning of the week when Canadian dollar rallied above Y+2. Ended the week however, down at our original target of Y-2 at 200% absolute range expansion.
Outlook
The spike up in the past week actually give more fuel to the downside than helping the pair to find a decent bottom. Since this coming week will clearly be affected by news coming from US, it is best to stay off longer term trade on this pair and focus on intraday setups only.
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