Lawrence's Comment
Recap
Bearish scenario unfolded exactly as predicted. Downside target B-2 tagged and closed the week below Y-1.
Outlook
A retest of B-1 is likely. B-0 should act as resistance until B-1 ...
Lawrence's Comment
Recap
Instead of holding above Y-1, it failed to act as support right from the beginning of the week. That set the stage for a test of Y-1 mid-week ...
Lawrence's Comment
Recap
Total breakdown since the start of the week. Tagged 2X previous week range and bounced on exhaustion. Closed the week at midpoint.
Outlook
Looking for short term bottom early ...
USDCAD Jan 02 to Jan 06 Outlook
Lawrence’s Comment
Y-1 failed to hold up the pair. Y-0 was not even challenged from below. Closed the week, however, above Y-1.
Outlook
Opened the door to test Y-2 below. Breaking above B+1 will mark the end of this down trend.
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