Recap Consolidation around Y+1 as expected. Since it is consolidation, both Y+2 and Y-0 were not tagged. Closed the week above Y+1 and midpoint.
Outlook 3rd week into this up drift formation along a support trendline. A break of B-0 early this week can lead to a pullback down to Y-0 and below. Not necessary a steep selloff. Prices do not stay in a structured formation for long so chaos in the making.
Lawrence's Comment
Recap
Further weaknesses as expected. Consolidated right below Y-1. Closed the week below Y-1 and midpoint.
Outlook
Last week was holiday week, thus the bear flag formation is less reliable. ...
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 May 27 to May 31 Outlook
Lawrence’s Comment
Consolidation around Y+1 as expected. Since it is consolidation, both Y+2 and Y-0 were not tagged. Closed the week above Y+1 and midpoint.
Outlook
3rd week into this up drift formation along a support trendline. A break of B-0 early this week can lead to a pullback down to Y-0 and below. Not necessary a steep selloff. Prices do not stay in a structured formation for long so chaos in the making.
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