Trading Edges That Last
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As Featured In
USDCAD Jun 18 to Jun 22 Outlook
Lawrence’s Comment
Continue the consolidation process as expected. Test of Y-1 resulted in a bounce to Y-0 then slow drift back down to Y-1. Closed the week near week low.
Outlook
A clear resistance line has developed over the past 2 weeks. A clean breakout above B-0 which also holding above the resistance line will produce a rally back to B+2.
Failing to breakout upside points to B-2 in play as it is likely to take a flush to take out the weak longs.
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