USDCAD Sep 30 to Oct 04 Outlook

By News Robot

Lawrence’s Comment

Recap
Loonie managed to get to Y+1 by drifting slowing. It was immediately rejected. Closed the week at midpoint and above Y-0.

Outlook
It has weaknesses written all over. The slow up channel once broken to the downside points to at least a test of Y-0 and B-2 should be tagged too. This drop does not imply a selloff to any lower price level though because Y-1 was rejected decisively.

Rare scenario is that a quick breakout above B+1 will result in a run to B+3 and B+4 in almost no time due to the parabolic pattern in place.

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