Recap As mentioned last week, a bounce from Y-1 was expected but it failed to tag Y+1. Closed the week below midpoint and Y-0.
Outlook B-2 is next downside target. The less likely scenario is a slow grind selloff to B-1 with a quick rally from there taking out B-0. If that happens, the down trend is broken.
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
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
Lawrence's Comment
Recap
Normal scenario unfolder. Y-0 acted as support with Y+1 not acting as resistance. Paved way to Y+2 and materialized later in the week. Closed the week above Y+2 and ...
USDCAD Apr 18 to Apr 22 Outlook
Lawrence’s Comment
As mentioned last week, a bounce from Y-1 was expected but it failed to tag Y+1. Closed the week below midpoint and Y-0.
Outlook
B-2 is next downside target.
The less likely scenario is a slow grind selloff to B-1 with a quick rally from there taking out B-0. If that happens, the down trend is broken.
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