Recap Easiest play last week. Failed right at resistance and then collapsed. Got Y-2 in 1 go and no strength to recover since. Y-3 extended target tagged and bounced. Closed the week below Y-1 and near midpoint.
Outlook Mentioned many times here that 1.08 is a long term magic number going way back. Tagged and reacted to is normal. It is not necessary a short term bottom yet.
Wide range week with midpoint close points to consolidation near B-0 with 50% range likely.
Lawrence's Comment
Recap
Out of a rare event, we get rare price actions. Out of last week's rare price actions and price patterns, however, the behaviour matches the small number of ...
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
USDCAD May 12 to May 16 Outlook
Lawrence’s Comment
Easiest play last week. Failed right at resistance and then collapsed. Got Y-2 in 1 go and no strength to recover since. Y-3 extended target tagged and bounced. Closed the week below Y-1 and near midpoint.
Outlook
Mentioned many times here that 1.08 is a long term magic number going way back. Tagged and reacted to is normal. It is not necessary a short term bottom yet.
Wide range week with midpoint close points to consolidation near B-0 with 50% range likely.
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