Recap Strength in gold helping to push this pair lower. Resistance at 1.08 was not even challenged. Y-1 resistance gave way to Y-2 target. Closed the week below Y-2 and at week low.
Outlook A flush through B-1 down to B-2 / Y-3 with a snap back up above B-1 is sign of temporary bottom. It will likely lead to retest of B+1.
Holiday week for Canada thus slow down in overall activities in Loonie is expected.
Lawrence's Comment
Recap
The bounce back to B-0 was expected but you cannot predict the time that the governments would take action in the scale like last week. The interesting ...
Lawrence's Comment
Recap
As expected, Y-0 was tagged after multiple attempts to break below Y-1 and failed. Closed the week near midpoint.
Outlook
Loonie likely trapped between B+1 down to B-1 over ...
For 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 schedule
For 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 schedule
USDCAD Jun 30 to Jul 04 Outlook
Lawrence’s Comment
Strength in gold helping to push this pair lower. Resistance at 1.08 was not even challenged. Y-1 resistance gave way to Y-2 target. Closed the week below Y-2 and at week low.
Outlook
A flush through B-1 down to B-2 / Y-3 with a snap back up above B-1 is sign of temporary bottom. It will likely lead to retest of B+1.
Holiday week for Canada thus slow down in overall activities in Loonie is expected.
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