USDCAD May 11 to May 15 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-0 did not act as support at all on first test. This opened the door to Y-1 and the test of Y-1 led to a strong bounce. Closed the week near Y-0 and midpoint.

Outlook
Closing near midpoints means indecision. Y-1 / B-1 confirmed strong support, until proven otherwise, as long as B-0 down to B-1 acting as support, a test of B+1 and B+2 will be in play.

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