Recap Just like Aussie, Loonie consolidated around Y-1 until Fed announcement. Then Loonie jumped with gold. After Y-3 was tagged strong reaction was resulted. Closed the week at Y-1 and above midpoint.
Outlook Annoying situation like Aussie where the end of week bounce was not strong enough to be called a reversal. Need to clear B+1 before we get a confirmed low in place. Rejected in the Y-1 to B+1 zone will send this back down to at least B-0.
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Lawrence's Comment
Recap
All week updrift from near Y-0 fitted the NFP play perfectly. Y+2 target tagged without any real resistance. Clsoed the week near Y+2 and above midpoint.
Outlook
Parabolic run ...
Lawrence's Comment
Recap
Consolidation actions around Y+1 as expected. NFP did not produce a directional move outside of the consolidation range hence no range expansion play. Closed the week near Y+1 and ...
USDCAD Sep 23 to Sep 27 Outlook
Lawrence’s Comment
Just like Aussie, Loonie consolidated around Y-1 until Fed announcement. Then Loonie jumped with gold. After Y-3 was tagged strong reaction was resulted. Closed the week at Y-1 and above midpoint.
Outlook
Annoying situation like Aussie where the end of week bounce was not strong enough to be called a reversal. Need to clear B+1 before we get a confirmed low in place. Rejected in the Y-1 to B+1 zone will send this back down to at least B-0.
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