USDCAD Jun 06 to Jun 10 Outlook

By News Robot

Lawrence’s Comment

The messed up pair of the week. Started out the week with Y-0 acting as resistance, forcing it to break down to target zone Y-3. Then staged a 1-2-3 buy off the Y-3 level to break the Y-2 level, leading to a zoom back up to Y-0. Since then Y-1 acted as support and sent the pair upto Y+2 but closing the week back at Y-0.

Closing at Y-0 tells the tale – Y+1 to B+1 area is rejecting the pair decisively as resistance and Y-3 to Y-2 is acting as strong support.

Price is going to be trapped within B+1 down to B-2 for a long time.


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