USDCAD Jul 30 to Aug 03 Outlook

By News Robot

Lawrence’s Comment

Recap
First move in the week caught me by surprise – zoomed to Y+2 first before stalling back down to Y-1. Closed the week near week low.

Outlook
Last week I was looking for weaknesses in the pair and I got it 1/2 right. Seems like the sellers were not in controll at all when we got that stop run move to the upside. That signals the potential of a bottom in the making for the near term.

Swing trading will not be a good idea for this pair until after a clear direction is established.

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