USDCAD Jul 13 to Jul 17 Outlook

By News Robot

Lawrence’s Comment

Recap
Momentum carried this higher but not quite up to Y+2 as the week is suppose to consolidate. Entered into tight range congestion most of the week. Closed the week near Y+1 and midpoint.

Outlook
Bull flag on 4 hours landing at Y+1 is sign of strength. As long as Y+1 holds, a quick turnaround to test B+1 is likely.

If Y+1 fails to act as support, then another round of consolidation down to B-1 and below will be in play.

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