Recap Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook A irregular down channel in place on 4 hour. This can extend the drop to B-1 / B-2 zone. If that results in a quick snap back above B-1, we have a go for B+1 and then Y+1.
Lawrence's Comment
Recap
Failed to break above the resistance zone I mentioned last week, selloff continue. Closed the week near the low of the week.
Outlook
The down channel is intact but potential ...
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 Nov 17 to Nov 21 Outlook
Lawrence’s Comment
Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook
A irregular down channel in place on 4 hour. This can extend the drop to B-1 / B-2 zone. If that results in a quick snap back above B-1, we have a go for B+1 and then Y+1.
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