Trading Edges That Last
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As Featured In
USDCAD Feb 18 to Feb 22 Outlook
Lawrence’s Comment
Popped higher right from the start of the week and tagged Y+2. This opened the doorway to go higher. Then pullback to above Y-0 forming a double bottom on 4 hour and resumed the rally. Did not tag the upside target mentioned last week though. Closed the week above Y+1 and midpoint.
Outlook
Should move above B+1 early next week. Unlike Aussie holding its ground, Loonie has been weak against dollar following the weaknesses in gold. This makes Loonie more difficult to trade going forward.
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