USDCAD Jun 16 to Jun 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Just like ninja, support zone failed to produce a low. Door to Y-1 opened. Y-1 target zone reached and the drop stalled. Closed the week below Y-0 and near week low.

Outlook
Inside week with close near the bottom of the range is bearish. A test of Y-1 is likely. Spiking through is also likely.

If reaction to the spike through is a quick snap back above, there is a good chance for a run back up to B-0 again.

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