Did not mention USDCAD in past few weeks because it is in a tight range consolidation. Not much actions with this pair until the end of the week, where it bounced back up to close above previous quarter close.
Next week outlook
A breakout to the upside from the yellow zone as a mini launch pad, will take USDCAD back up to 1.055 (green zone).
A selloff from yellow zone implies monthly downside expansion in full force where the red zone is the first target.
Lawrence's Comment
Recap
Ninja rejected Y+1 decisively giving us Y-0 quickly. Since then previous week close also turned into resistance giving us a go for Y-1. Y-1 tagged later in the week. ...
USDCAD Week of Nov 29th to Dec 3rd Outlook
Recap of last week
Did not mention USDCAD in past few weeks because it is in a tight range consolidation. Not much actions with this pair until the end of the week, where it bounced back up to close above previous quarter close.
Next week outlook
A breakout to the upside from the yellow zone as a mini launch pad, will take USDCAD back up to 1.055 (green zone).
A selloff from yellow zone implies monthly downside expansion in full force where the red zone is the first target.
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