Recap Down channel resistance early in the week pressed price down to Y-0 and opened the door to Y-1. Y-1 tested mid week and held. Closed the week below Y-0 and near midpoint.
Outlook FBO against Y-1 on daily. Potential run to B+1 and Y+1 as long as Y-1 acting as support.
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Lawrence's Comment
Recap
As expected this pair moved lower slowly towards 0.98. Found some support at Y-2. Closed the week at midpoint and above Y-2.
Outlook
Signs of support but too weak to ...
USDCAD May 18 to May 22 Outlook
Lawrence’s Comment
Down channel resistance early in the week pressed price down to Y-0 and opened the door to Y-1. Y-1 tested mid week and held. Closed the week below Y-0 and near midpoint.
Outlook
FBO against Y-1 on daily. Potential run to B+1 and Y+1 as long as Y-1 acting as support.
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