USDCAD Jan 07 to Jan 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Completely wrong on this one last week that par is in sight. Similar to its metal friend Aussie, both turned strong against dollar quickly and violently with the fiscal cliff deal in place. The target for such sudden change, Y-3, however, still worked very well as the target and support zone. Closed the week below Y-2 and near week low.

Outlook
Daily up trend not broken but close to. Can be a change in trend in the making. Like to see evidence that B-0 / Y-1 acting as resistance again before commiting to swing short for a run down to 0.96

Share

  • You must be logged in to comment. Log in