Lawrence's Comment
Recap
Broken above the resistance zone mentioned last week, leading to immediate reversal to normal upside target of Y+2. Stalled from Y+2 and tried to stay above Y+1 ...
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Lawrence's Comment
Recap
Retest of the lows happened as as Aussie failed to push higher from Y-0. Support found near Y-1 and bounced back. Closed the week above Y-0 and midpoint.
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Lawrence's Comment
Recap
Consolidation around B+1 at 50% range as expected. A necessary pause for the wild moves over the past few weeks. Closed the week below Y+1 and near midpoint.
Outlook
Difficult week ...
USDCAD Jan 02 to Jan 06 Outlook
Lawrence’s Comment
Y-1 failed to hold up the pair. Y-0 was not even challenged from below. Closed the week, however, above Y-1.
Outlook
Opened the door to test Y-2 below. Breaking above B+1 will mark the end of this down trend.
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