USDCAD Apr 01 to Apr 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Got downside breakout which was the side with better odds. Tagged Y-2 target and consolidated since. Closed the week above Y-2 and below midpoint.

Outlook
Notice the way it drops is along a very well defined down trendline. It is a sign of mechanical unloading. Such structured movement do not last. Expect this to snap out of the down move and retesting B-0 / Y-1 first.

If the pair cannot push through Y-1, a retest of B-1 will be next.

Share

  • You must be logged in to comment. Log in