Recap Got downside breakout which was the side with better odds. Tagged Y-2 target and consolidated since. Closed the week above Y-2 and below midpoint.
Outlook Notice the way it drops is along a very well defined down trendline. It is a sign of mechanical unloading. Such structured movement do not last. Expect this to snap out of the down move and retesting B-0 / Y-1 first.
If the pair cannot push through Y-1, a retest of B-1 will be next.
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
Lawrence's Comment
Recap
Measured up move early in the week has many fooled as if a bottom is in place. The end of the measured up resulted in a quick drop ...
Lawrence's Comment
Recap
The easy play last week. Y-0 acted as resistance and gave us a selloff down to Y-3 my target. It cannot get any easier than this. Closed the week ...
Lawrence's Comment
Recap
Wild ride as mentioned last week. Pretty much straight up from Y-1 to Y+2 with very strong reactions between Y-0 and Y+1. Closed the week above Y+1 and midpoint.
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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 01 to Apr 05 Outlook
Lawrence’s Comment
Got downside breakout which was the side with better odds. Tagged Y-2 target and consolidated since. Closed the week above Y-2 and below midpoint.
Outlook
Notice the way it drops is along a very well defined down trendline. It is a sign of mechanical unloading. Such structured movement do not last. Expect this to snap out of the down move and retesting B-0 / Y-1 first.
If the pair cannot push through Y-1, a retest of B-1 will be next.
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