Recap Double top setup to break Y-0 early in the week. 100% absolute range expansion to the downside and stopped right there. Snapped back above Y-0 and turning that into support. Y+2 target eventually tagged but sold off back down to Y-0.
Outlook Used up 200% range of prior week and still cannot close outside of B+1 and B-1.
Bullish scenario is that B-0 acts as support early in the week and send the pair to B+1 again.
Consolidation scenario will find support at Y-1 and resistance at Y+1.
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
ContentReviewEuro Not the Time to Touch ItS&P Delaying the Inevitable Means a Steeper Correction AheadGold Shaping Up for More UpsideBig Picture SummaryReviewEuro another try to break the channel resistance. Outcome ...
USDCAD Jun 20 to Jun 24 Outlook
Lawrence’s Comment
Double top setup to break Y-0 early in the week. 100% absolute range expansion to the downside and stopped right there. Snapped back above Y-0 and turning that into support. Y+2 target eventually tagged but sold off back down to Y-0.
Outlook
Used up 200% range of prior week and still cannot close outside of B+1 and B-1.
Bullish scenario is that B-0 acts as support early in the week and send the pair to B+1 again.
Consolidation scenario will find support at Y-1 and resistance at Y+1.
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