USDCAD Feb 28 to Mar 04 Outlook

By News Robot


Lawrence’s Comment

Recap
The spike high was made at Y+2 and Y+1 did not show any signs of support. That implies the other extreme is in play according to STOPD and indeed the pair sold off to Y-1 and then Y-2.

Outlook
Depending on the close of the month, there are 2 distinctly different scenarios that are more likely to happen.
Closing the month above Y-1, the pair will snap back up to B-0 as first target. and likely rally to Y+1 before it pause.
Closing the month below Y-1, range expansion to the downside will be more likely and this time it is monthly STOPD levels in play.

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