Trading Edges That Last
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USDCAD May 20 to May 24 Outlook
Lawrence’s Comment
Y-0 acted as support as expected and Y+2 upside target tagged early in the week. Then Y+1 acting as support gave us a go for Y+3. Closed the week near week high and below Y+3.
Outlook
Weaknesses in gold helped the reversal going higher here. The last part of the up run was classic stop run so a retest of Y+2 / B-0 is likely. Consolidation with mild downside bias.
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