Recap Shock sent the pair to trade above Y+1 but failed to hold above that. Y+1 turned into resistance and signal a test of Y-1 in play. Selloff stopped at 200% absolute expansion and bounced back to close at Y-1.
Outlook As long as Y-1 to B-0 acts as resistance, B-1 will be retested.
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 Apr 25 to Apr 29 Outlook
Lawrence’s Comment
Shock sent the pair to trade above Y+1 but failed to hold above that. Y+1 turned into resistance and signal a test of Y-1 in play. Selloff stopped at 200% absolute expansion and bounced back to close at Y-1.
Outlook
As long as Y-1 to B-0 acts as resistance, B-1 will be retested.
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