Recap Dropped to B-2 with 1.31 not acting as support at all. This gives way to 1.30 round number and below. Closed the week below Y-2 and near week low.
Outlook Weeks of build up to push above the yearly resistance has failed on its first try on monthly basis. That points to pullback on weekly timeframe back down to the weekly support zone below around 1.28. If 1.29 down to 1.28 can successfully form a proper bottoming setup, we can expect a retest of year high by end of this year or early next year.
Lawrence's Comment
Recap
Aussie carried higher as gold holding onto its gain last week. Spiked through Y-0 but failed to clear the resistance. Closed the week below Y-0 and midpoint.
Outlook
Consolidation after wide ...
Lawrence's Comment
Recap
Tagged resistance zone as expected, but no breakout above that. Instead, ninja fell back down to Y-0 eventually. Most part of the week was spend holding right below Y+1 ...
Bank of Japan finally joining its peers with the announcement today. http://www.boj.or.jp/en/announcements/release_2013/k130122a.pdf All the major currencies are now in non-stop printing mode. But to make printing driven inflation ...
Lawrence's Comment
Recap
Y-1 holds gave us a push for Y+1 and above. Consolidation around Y+1 after 100% absolute range expansion. Closed the week above Y+1 and near week high.
Outlook
4 ...
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 Oct 12 to Oct 16 Outlook
Lawrence’s Comment
Dropped to B-2 with 1.31 not acting as support at all. This gives way to 1.30 round number and below. Closed the week below Y-2 and near week low.
Outlook
Weeks of build up to push above the yearly resistance has failed on its first try on monthly basis. That points to pullback on weekly timeframe back down to the weekly support zone below around 1.28. If 1.29 down to 1.28 can successfully form a proper bottoming setup, we can expect a retest of year high by end of this year or early next year.
Share