Recap Normal scenario unfolder. Y-0 acted as support with Y+1 not acting as resistance. Paved way to Y+2 and materialized later in the week. Closed the week above Y+2 and near week high.
Outlook Up channel in place making it hard to go much higher until some form of pullback happens. FBO against B+1 will send this back down to below B-0 easily.
Lawrence's Comment
Recap
Last week's warning that once Y-0 failed to act as support, Dow has no support until 12500. There it was. Sold off to 12500 and took off. ...
Lawrence's Comment
Recap
Aussie rising wedge turned into a thin up channel leaning on Y-0 support. Normal upside target Y+2 tagged. Closed the week above Y-0 and below midpoint.
Outlook
Potential break ...
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 Dec 15 to Dec 19 Outlook
Lawrence’s Comment
Normal scenario unfolder. Y-0 acted as support with Y+1 not acting as resistance. Paved way to Y+2 and materialized later in the week. Closed the week above Y+2 and near week high.
Outlook
Up channel in place making it hard to go much higher until some form of pullback happens. FBO against B+1 will send this back down to below B-0 easily.
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