Trading Edges That Last
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Lawrence's Comment Recap Euro traded above Y-0, yet failed to hold above it leading to a flush straight down to Y-2 target. Closed the week below Y-1 and midpoint. Outlook The drop ...READ MOREFor 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 scheduleREAD MORELawrence's Comment Recap Pressed at B-1 in the beginning of the week killed the rally potential. Y-3 tagged and no support is found. Closed the week near week low. Outlook Similar setup ...READ MORE3DP Odds Table (USDCAD) 2019-10-07EURUSD Jul 16 to Jul 20 Outlook3DP Odds Table (USDCAD) 2021-01-06Precog Vision – Forex 2015-10-13DP Odds Table (USDCAD) 2023-03-03EURUSD Nov 03 to Nov 07 Outlook3DP Odds Table (USDCAD) 2014-04-023DP Odds Table (USDCAD) 2013-12-16Precog Vision – Forex 2017-6-27Dow 30 May 21 to May 25 Outlook
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USDCAD Sep 30 to Oct 04 Outlook
Lawrence’s Comment
Loonie managed to get to Y+1 by drifting slowing. It was immediately rejected. Closed the week at midpoint and above Y-0.
Outlook
It has weaknesses written all over. The slow up channel once broken to the downside points to at least a test of Y-0 and B-2 should be tagged too. This drop does not imply a selloff to any lower price level though because Y-1 was rejected decisively.
Rare scenario is that a quick breakout above B+1 will result in a run to B+3 and B+4 in almost no time due to the parabolic pattern in place.
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