Recap FBO against Y+1 gave us a drop back down to Y-0 and then lower. 100% range expansion stopped the down move. Closed the week near Y-0 and midpoint.
Outlook Same problem like past several weeks that Loonie is still range bounded. Until we get a move outside of this range, there is no directional play.
Lawrence's Comment
Recap
As mentioned last week, the reversal potential is there and no longer looking for short. Nailed it. 100% absolute range expansion stopped the run up slighly below ...
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USDCAD Jul 18 to Jul 22 Outlook
Lawrence’s Comment
FBO against Y+1 gave us a drop back down to Y-0 and then lower. 100% range expansion stopped the down move. Closed the week near Y-0 and midpoint.
Outlook
Same problem like past several weeks that Loonie is still range bounded. Until we get a move outside of this range, there is no directional play.
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