Trading Edges That Last
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USDCAD May 02 to May 06 Outlook
Lawrence’s Comment
Unfolded exactly as mentioned last week – tried to rally and stalled at Y-0. Eventually closed the week at Y-1.
Outlook
More weaknesses is expected. A test of B-2 is in play. Reaction there will tell if the drop is over.
The more likely scenario is that B-2 will not stop the selloff and B-3 will be tagged quickly.
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