Recap Y-0 acted as resistance at the start of the week but could not hold the price down on the 2nd try. Price zoomed up but stalled at the same distance like week low from Y-1. That staged a consolidation for the rest of the week. Closed the below Y-0 and midpoint.
Outlook Inside week with gap not filled below. Very rare for this pair. Breakout mode in place with slight favour to the downside.
Lawrence's Comment
Recap
Pulled back to resistance area and sold off again to restest Y-1. Then failed to push above the midpoint of the week at that time and resulted ...
Lawrence's Comment
Recap
Further compression happened. Price broken down to Y-2 resulted in a strong bounce from Y-2 twice. However, closed the week at midpoint below Y-1.
Outlook
Clearly intervention at this 76 ...
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
The intervention I've been talking about happened. It illustrates why we cannot trade the short side of this pair when it was drifting downward as we cannot tell ...
USDCAD Mar 25 to Mar 29 Outlook
Lawrence’s Comment
Y-0 acted as resistance at the start of the week but could not hold the price down on the 2nd try. Price zoomed up but stalled at the same distance like week low from Y-1. That staged a consolidation for the rest of the week. Closed the below Y-0 and midpoint.
Outlook
Inside week with gap not filled below. Very rare for this pair. Breakout mode in place with slight favour to the downside.
Share