Lawrence's Comment
Recap
Consolidation around Y-0 all week. Closed the week below Y-0 and midpoint.
Outlook
Structure of inverse head and shoulder intact but the formation has weaken. Breaking below B-2 points ...
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USDCAD Dec 23 to Dec 27 Outlook
Lawrence’s Comment
Quiet start like other pairs until FOMC news shock. Y+2 usual upside target blocked the upswing. Closed the week above Y-0 and below midpoint.
Outlook
Loonie rejected the upside decisively.As long as B-0 / Y+1 acting as resistance another try at B-1 is likely.
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