Recap Consolidation around previous week close / Y+1 as expected. 50% range. Closed the week above Y+1 and midpoint.
Outlook Consolidation around Y+1 is bullish. Up channel like behaviour at multiple year high implies bulls are in control. Until the up trend line support from the past several weeks is broken, the up drift can continue until more stops above are discovered.
Lawrence's Comment
Recap
Dow moved back to 18000 before its wild swings lower. All week gaps not filled and price actions going wild. Closed the week above Y-2 and below midpoint.
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USDCAD Jul 27 to Jul 31 Outlook
Lawrence’s Comment
Consolidation around previous week close / Y+1 as expected. 50% range. Closed the week above Y+1 and midpoint.
Outlook
Consolidation around Y+1 is bullish. Up channel like behaviour at multiple year high implies bulls are in control. Until the up trend line support from the past several weeks is broken, the up drift can continue until more stops above are discovered.
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