Recap The collapse of gold price in the beginnng of the week rejected the possibility of further weaknesses. So the other direction came in force. 1-2-3 buy against Y-0 sent the pair to Y+3 (classic reversal first target).
Outlook Messy price action as traders scrambled to cover their shorts. A bit more upside is in play early part of the week and then consolidation is expected within Y+2 to B+1. Gold price is the driving force at the moment.
Lawrence's Comment
Recap
Dropped to Y-1 and found support. Stopped at resistance zone mentioned last week. Closed the week below Y0 and above midpoint.
Outlook
Tight range consolidation while trapped between Y-0 ...
Lawrence's Comment
Recap
Spike higher in beginning of the week and sold off from there. Yet Y-0 was not tagged. Earning shocks sent ES above resistance and tagged Y+2 and ...
USDCAD May 09 to May 13 Outlook
Lawrence’s Comment
The collapse of gold price in the beginnng of the week rejected the possibility of further weaknesses. So the other direction came in force.
1-2-3 buy against Y-0 sent the pair to Y+3 (classic reversal first target).
Outlook
Messy price action as traders scrambled to cover their shorts. A bit more upside is in play early part of the week and then consolidation is expected within Y+2 to B+1.
Gold price is the driving force at the moment.
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