Recap Loonie reacted the same way like the other majors to the FOMC announcement last week. Break down from the daily up trend tagged normal sell off target of Y-2. Strong reaction to Y-2. Closed the week below Y-1 and midpoint.
Outlook Outside week and closing below Y-1 is bearish. Short term top in place with sideway actions expected as weekly up trend is still intact.
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
Lawrence's Comment
Recap
Rally continued until Y+2 is tagged. News shock from Euro zone induced a sharp selloff back down to above 1.00, slightly higher than Y-0. Closed the week ...
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 Mar 23 to Mar 27 Outlook
Lawrence’s Comment
Loonie reacted the same way like the other majors to the FOMC announcement last week. Break down from the daily up trend tagged normal sell off target of Y-2. Strong reaction to Y-2. Closed the week below Y-1 and midpoint.
Outlook
Outside week and closing below Y-1 is bearish. Short term top in place with sideway actions expected as weekly up trend is still intact.
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