Recap Y-0 acted as support on first test but failed to hold up loonie afterwards, that opened the door to tag Y-1 and Y-2. Closed the week near Y-2.
Outlook The strong reversal of loonie is a direct result of the news shocks from ECB and Fed.
As Fed scheduled special 2-day meeting this week and that ECB has been actively messing around with the FX markets using news shocks and such. It is a good idea to stay away from pairs like Loonie that are most likely to be impacted by their actions.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
USDCAD Sep 19 to Sep 23 Outlook
Lawrence’s Comment
Y-0 acted as support on first test but failed to hold up loonie afterwards, that opened the door to tag Y-1 and Y-2. Closed the week near Y-2.
Outlook
The strong reversal of loonie is a direct result of the news shocks from ECB and Fed.
As Fed scheduled special 2-day meeting this week and that ECB has been actively messing around with the FX markets using news shocks and such. It is a good idea to stay away from pairs like Loonie that are most likely to be impacted by their actions.
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