Recap Breakout play worked out nicely with 100% absolute range expansion target tagged. Drifted sideway since. Closed the week near Y-2 and below midpoint.
Outlook Bear flag on 4 hours points to retest of B-1 and likely lower. Successful attempt in closing the week above B-0 will point to a near term bottom in place.
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USDCAD Apr 18 to Apr 22 Outlook
Lawrence’s Comment
Breakout play worked out nicely with 100% absolute range expansion target tagged. Drifted sideway since. Closed the week near Y-2 and below midpoint.
Outlook
Bear flag on 4 hours points to retest of B-1 and likely lower. Successful attempt in closing the week above B-0 will point to a near term bottom in place.
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