Trading Edges That Last
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USDCAD Feb 09 to Feb 13 Outlook
Lawrence’s Comment
Yeary STOPD expansion target Y+1 stopped the run and led to the first significant pullback in months. Directional drop from previous week close straight down to Y-1 and 100% range expansion before a bounce. Y-0 resistance stopped the bounce. Closed the week below Y-0 and midpoint.
Outlook
Consolidation after the wild swings over past few weeks is normal. Y-0 / B-0 resistance points to retest of B-1 and potential drop to B-2. This pullback, however, can take several weeks to unfold.
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