Trading Edges That Last
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As Featured In
USDCAD Nov 24 to Nov 28 Outlook
Lawrence’s Comment
Y-1 acted as support early in the week sending this back up to the down channel top. Channel resistance forced a turn lower and we got the channel support / Y-2 by end of the week. Closed the week below Y-1 and midpoint.
Outlook
Channel resistance now lowered to Y-0 area. Clearing that will give way to retest the November high.
For now, we have to assume the channel will continue to dictate the price with a bounce back up to channel top likely.
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