Recap As expected pullback to Y-0 and stuck in a tight range since. Consolidation around Monday range all week. Closed the week above Y-0 and below midpoint.
Outlook 1-2-3 sell on 4 hours points to B-2 and lower. Not necessary a very bearish move just that real buyers have to step in from the support area below B-1 to enable another leg up.
Lawrence's Comment
Recap
FBO (false breakout) early in the week gave us Y-1 as the downside target. That worked out quickly and tagged Y-2 before the pair can find support. ...
Lawrence's Comment
Recap
The FBO short play worked out perfectly with Y-1 tagged by the end of the week. Y-0 acted as resistance all week. Closed the week near Y-1 and week ...
USDCAD Mar 03 to Mar 07 Outlook
Lawrence’s Comment
As expected pullback to Y-0 and stuck in a tight range since. Consolidation around Monday range all week. Closed the week above Y-0 and below midpoint.
Outlook
1-2-3 sell on 4 hours points to B-2 and lower. Not necessary a very bearish move just that real buyers have to step in from the support area below B-1 to enable another leg up.
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