Recap Breakout play netted 200 pips instead of just 100. The best surprise of the week. The pair did not stop until Y+5 was tagged. A lot of trapped shorts indeed. Closed the week above Y+4 and near week high.
Outlook Consolidation with upside bias.
The catch is that if gold suddenly reverse its course, Loonie can snap back to B-0 quickly. Monitor gold closely for signs of spike reversal.
Lawrence's Comment
Recap
Y-1 breached early in the week as expected. But it turns into a w. spring against Y-1 and rally to the natural target Y+1. Broke above Y+1, the ...
Lawrence's Comment
Recap
Dow trapped in Y-0 to Y+1 most of the week until Friday option expiration. It then took off when news about Greece debt agreement were fed out. Closed the ...
USDCAD Jun 24 to Jun 28 Outlook
Lawrence’s Comment
Breakout play netted 200 pips instead of just 100. The best surprise of the week. The pair did not stop until Y+5 was tagged. A lot of trapped shorts indeed. Closed the week above Y+4 and near week high.
Outlook
Consolidation with upside bias.
The catch is that if gold suddenly reverse its course, Loonie can snap back to B-0 quickly. Monitor gold closely for signs of spike reversal.
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