Recap As expected, more downside. Y-0 resistance sent this down to almost Y-3. Resistance trend line break gave us a bear flag / up channel back up above Y-1. Closed the week above Y-1 and midpoint.
Outlook Potential long term bottom in the making. First, we need to see B-1 acting as support from retest though.
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 weaknesses observed last week played out well and cable dropped below target Y-1. After 100% absolute range expansion is completed, cable bounced off and closed the ...
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 Apr 14 to Apr 18 Outlook
Lawrence’s Comment
As expected, more downside. Y-0 resistance sent this down to almost Y-3. Resistance trend line break gave us a bear flag / up channel back up above Y-1. Closed the week above Y-1 and midpoint.
Outlook
Potential long term bottom in the making. First, we need to see B-1 acting as support from retest though.
Short term resistance B+1.
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