Recap As oppose to retest Y+1, Loonie did a 1-2-3 sell off Y-0 right from the start of the week. That points to at least a retest of Y-1. 100% absolute range expansion reached and bounced back to midpoint before closing lower.
Outlook B-1 retest likely.
Breaking below points to a potential 3rd push down to 1.00 area.
Lawrence's Comment
Recap
Similar to Dow but weaker. S&P can only muster up 100& absolute range expansion. Closed the week above Y+2 and near week high.
Outlook
Unusual circumstances implies uncertainty ahead. ...
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 Jan 23 to Jan 27 Outlook
Lawrence’s Comment
As oppose to retest Y+1, Loonie did a 1-2-3 sell off Y-0 right from the start of the week. That points to at least a retest of Y-1. 100% absolute range expansion reached and bounced back to midpoint before closing lower.
Outlook
B-1 retest likely.
Breaking below points to a potential 3rd push down to 1.00 area.
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