Recap Inside week. Y-1 tested and bounced off. Rallied to almost Y+1 and stalled. Closed the week near Y-1.
Outlook End of week selloff was driven by news. US dollar is sitting at a critical price point across all majors. If it gives in, there is no real support against Loonie until the 0.96 level.
To break the down trend, we need to see B+1 taken out first.
Lawrence's Comment
Recap
Instead of testing Y-1 first, ninja opted for test of Y-0 zone resistance first. That forced a drop in ninja back down to Y-1 later in the week. Closed ...
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
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 Sep 03 to Sep 07 Outlook
Lawrence’s Comment
Inside week. Y-1 tested and bounced off. Rallied to almost Y+1 and stalled. Closed the week near Y-1.
Outlook
End of week selloff was driven by news. US dollar is sitting at a critical price point across all majors. If it gives in, there is no real support against Loonie until the 0.96 level.
To break the down trend, we need to see B+1 taken out first.
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