Recap As explained last week, short term low should be in place and it worked out nicely. Y-0 support sent this up to Y+1 and pushed up again but failed to hold above Y+1. Closed the week above Y-0 and near midpoint.
Outlook 3 pushes up pattern suggests consolidation with a retest of B-1 in play. As long as B-1 holds, the short term bottom is intact.
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
Lawrence's Comment
Recap
Consolidation at 50% previous week range as expected. Drifted back up to resistance Y-0. Closed the week at Y-0 and above midpoint.
Outlook
A complete week of bear flag is not ...
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 Jun 29 to Jul 03 Outlook
Lawrence’s Comment
As explained last week, short term low should be in place and it worked out nicely. Y-0 support sent this up to Y+1 and pushed up again but failed to hold above Y+1. Closed the week above Y-0 and near midpoint.
Outlook
3 pushes up pattern suggests consolidation with a retest of B-1 in play. As long as B-1 holds, the short term bottom is intact.
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