Recap Followed the down channel play and gave us a easy week. Closed the week above Y-1 and below midpoint.
Outlook Down channels do not last. As long as B-0 acting as resistance the down channel is still in force with potential selloff down to Y-2 / B-2 area.
Once B-0 is cleared and turning into support, we have a good chance of seeing Y+1 and above quickly.
Lawrence's Comment
Recap
Aussie did not produce a buy setup early in the week. It just drifted higher to retest Y-0. The bear flag setup was good for a retest of Y-1 ...
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 into NFP Friday as expected. Sudden weakening of USD against other majors on Friday gave the stock market strength to hold up. Closed the week above Y-0 and ...
USDCAD Feb 17 to Feb 21 Outlook
Lawrence’s Comment
Followed the down channel play and gave us a easy week. Closed the week above Y-1 and below midpoint.
Outlook
Down channels do not last. As long as B-0 acting as resistance the down channel is still in force with potential selloff down to Y-2 / B-2 area.
Once B-0 is cleared and turning into support, we have a good chance of seeing Y+1 and above quickly.
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