Recap Y-0 down to Y-1 acted as support as expected but the rally failed to retest Y+1 as the second half of the week we got more news shocks messing around.
Outlook Loonie is developing a spike and ledge. If B-1 is broken without any upside breakout or breach of B+1 at all, a selloff can take it down to Y-3.
Lawrence's Comment
Recap
Y-1 support sent cable back up to Y-0. Y-0 resistance dropped cable down to 1.49 round number. 1-2-3 buy on 4 hour sent it back up to Y-1 and ...
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
USDCAD Aug 22 to Aug 26 Outlook
Lawrence’s Comment
Y-0 down to Y-1 acted as support as expected but the rally failed to retest Y+1 as the second half of the week we got more news shocks messing around.
Outlook
Loonie is developing a spike and ledge. If B-1 is broken without any upside breakout or breach of B+1 at all, a selloff can take it down to Y-3.
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