Recap The march towards 1.28 was realized last week. Very strong reactions there with rumours that central banks intervened. But Y+1 acted as support leading to another rush to 1.28. Closed the week above Y+2 and midpoint.
Outlook Monthly level multiple year high are not easily cleared or rejected in a week or two. It is a process of struggle among all participants. If Loonie continues to hang in this zone in coming few weeks, it is a sign that the zone is accepted with more upside coming.
Lawrence's Comment
Recap
Minimal pullback to Y-0 and then ES simply took off. One of the strongest NFP week in recent months. Closed the week above Y+3 and near week high.
Outlook
Low volume ...
Lawrence's Comment
Recap
Euro got its 1.32 test and zoomed thru it to Y+2 and 1.33. Closed the week above Y+2 and midpoint.
Outlook
Thin rising wedge / up channel in place. It is ...
USDCAD Mar 16 to Mar 20 Outlook
Lawrence’s Comment
The march towards 1.28 was realized last week. Very strong reactions there with rumours that central banks intervened. But Y+1 acted as support leading to another rush to 1.28. Closed the week above Y+2 and midpoint.
Outlook
Monthly level multiple year high are not easily cleared or rejected in a week or two. It is a process of struggle among all participants. If Loonie continues to hang in this zone in coming few weeks, it is a sign that the zone is accepted with more upside coming.
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