Trading Edges That Last
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USDCAD Jul 02 to Jul 06 Outlook
Lawrence’s Comment
First test of Y-1 led to pullback to Y-0. Y-0 held very well and gave us Y+2. Then euro zone news shock sending the pair all the way back to Y-1. Closed the week at week low near Y-1.
Outlook
News driven market. The stage is set to flush out the longs from the past few weeks. As long as Y-0 to B-0 acts as resistance, new low is expected for next week.
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