Recap Multiple pushes to the downside failed to push the price lower. After a FBO against week low printed earlier in the week, a rally was resulted. Closed the week at week high and near Y-0.
Outlook US dollar definitely gaining ground against Loonie. As long as B-0 is acting as support, retest of Y+1 very likely.
Lawrence's Comment
Recap
Rejected twice below Y-0 at 1.62. 2nd time sent cable down to Y-2. Staying weak as expected. Sold off to the nearest target as expected. Closed the week ...
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USDCAD Feb 11 to Feb 15 Outlook
Lawrence’s Comment
Multiple pushes to the downside failed to push the price lower. After a FBO against week low printed earlier in the week, a rally was resulted. Closed the week at week high and near Y-0.
Outlook
US dollar definitely gaining ground against Loonie. As long as B-0 is acting as support, retest of Y+1 very likely.
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