USDCAD May 09 to May 13 Outlook

By News Robot

Lawrence’s Comment

The collapse of gold price in the beginnng of the week rejected the possibility of further weaknesses. So the other direction came in force.
1-2-3 buy against Y-0 sent the pair to Y+3 (classic reversal first target).

Messy price action as traders scrambled to cover their shorts. A bit more upside is in play early part of the week and then consolidation is expected within Y+2 to B+1.
Gold price is the driving force at the moment.


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