USDCAD Apr 07 to Apr 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation at 50% previous week range as expected. Closed the week below Y-1 and midpoint.

Outlook
The end of week breakdown is normal for consolidation at Y-1. It is not a good predictor of direction. A quick reversal from a mild breach of B-1 back up to above B-0 will trigger a run to Y-0 / B+2.

As long as that has not happened yet, more down side to B-2 is likely.

Share

  • You must be logged in to comment. Log in