Recap Formed a slightly higher low and then pushed higher. Yet failed to clear the original bear flag support line that is now resistance. Closed the week above midpoint.
Outlook Inside week. Bear flag all week just like many other pairs. As long as B+1 is acting as resistance more down side is expected.
Lawrence's Comment
Recap
As expected, trapped long from before making Euro not able to clear Y+1 and was forced back down to Y-0 for a retest. Consolidation action at 50% previous week ...
USDCAD Oct 15 to Oct 19 Outlook
Lawrence’s Comment
Formed a slightly higher low and then pushed higher. Yet failed to clear the original bear flag support line that is now resistance. Closed the week above midpoint.
Outlook
Inside week. Bear flag all week just like many other pairs. As long as B+1 is acting as resistance more down side is expected.
Share