Recap Loonie continue to strengthen last week. Y+1 was not challenged at all. After breaking below Y-1, a flush to Y-3 materialized. Closed the week near week low and below Y-2.
Outlook As long as B-0 / Y-1 acting as resistance, more downside is expected.
As mentioned last week, 0.96 area is of great interest if we get a flush.
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
Instead of a regular bottom, we got a flush first below Y-2. Then a mini double bottom on hourly started the short squeeze we've been looking for. ...
USDCAD Sep 10 to Sep 14 Outlook
Lawrence’s Comment
Loonie continue to strengthen last week. Y+1 was not challenged at all. After breaking below Y-1, a flush to Y-3 materialized. Closed the week near week low and below Y-2.
Outlook
As long as B-0 / Y-1 acting as resistance, more downside is expected.
As mentioned last week, 0.96 area is of great interest if we get a flush.
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