Recap Tight range consolidation near Y-0 first half of the week. Then the whiplash mentioned last week came. First a push towards Y+1 and failed. Then collapsed at the end of the week to near Y-1 and quickly bounced back up. Closed the week near midpoint and Y-0.
Outlook Inside week. Y-0 near B-0. Signs of equilibrium. A strong breakout is in the making. Due to the fact that the tight range came from an up swing, breakout upside has better chance to succeed.
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
Lawrence's Comment
Recap
Resistance trend line breakout happened early in the week. Breakout play got us 100% absolute range exapnsion quickly. Closed the week above Y+1 and near week high.
Outlook
Consolidation ...
USDCAD Mar 11 to Mar 15 Outlook
Lawrence’s Comment
Tight range consolidation near Y-0 first half of the week. Then the whiplash mentioned last week came. First a push towards Y+1 and failed. Then collapsed at the end of the week to near Y-1 and quickly bounced back up. Closed the week near midpoint and Y-0.
Outlook
Inside week. Y-0 near B-0. Signs of equilibrium. A strong breakout is in the making. Due to the fact that the tight range came from an up swing, breakout upside has better chance to succeed.
Share