Recap Multiple pushes to the downside failed to push the price lower. After a FBO against week low printed earlier in the week, a rally was resulted. Closed the week at week high and near Y-0.
Outlook US dollar definitely gaining ground against Loonie. As long as B-0 is acting as support, retest of Y+1 very likely.
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Lawrence's Comment
Recap
Y-1 support helped cable to bounce back up to Y-0. Failed to clear Y-0 Cable droppped back down to near Y-1. Closed the week below Y-0 and midpoint.
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USDCAD Feb 11 to Feb 15 Outlook
Lawrence’s Comment
Multiple pushes to the downside failed to push the price lower. After a FBO against week low printed earlier in the week, a rally was resulted. Closed the week at week high and near Y-0.
Outlook
US dollar definitely gaining ground against Loonie. As long as B-0 is acting as support, retest of Y+1 very likely.
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