Lawrence's Comment
Recap
As mentioned last week, got our violent retest of Y-0 and flushed to the downside targets. Closed the week near week low and below Y-2.
Outlook
Consolidation with more downside.
If B-0 ...
Lawrence's Comment
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.
...
Lawrence's Comment
Recap
Y-1 support in the beginning of the week led to an up drift near Y-0. 1-2-3 sell breaking the bear flag sent Aussie straight down to clear Y-1. Range ...
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 21 to May 25 Outlook
Lawrence’s Comment
As expected the rally continues. Y-0 acted as support and forced a strong breakout to Y+3. Closed the week near week high.
Outlook
Short term bottom in place. Long bias until 1.08 is tagged.
Next week, however, is more likely to consolidate near B+1 with 50% range of previous week.
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