Recap Y-1 support consolidation created a breakout play. Breaking above led to a surge to measured move target above Y+1. Closed the week above Y+1 and near week high.
Outlook 2nd push higher with strong resistance above at B+1 / Y+2. Clearing Y+2 quickly will lead to a quick run to B+3.
Lawrence's Comment
Recap
Whole week has been a struggle to find direction. At the end of the week although there is a selloff it did not drop to Y-1 implying hidden ...
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 Jul 28 to Aug 01 Outlook
Lawrence’s Comment
Y-1 support consolidation created a breakout play. Breaking above led to a surge to measured move target above Y+1. Closed the week above Y+1 and near week high.
Outlook
2nd push higher with strong resistance above at B+1 / Y+2. Clearing Y+2 quickly will lead to a quick run to B+3.
Consolidation below resistance more likely.
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