Recap Spent most part of the week above Y-0 and right below Y+1 but failed to make a push above Y+1. Then the pair simply dropped through Y-0 as if it is not there at all. No support from Y-0 points to Y-1 as target. Yet the target was not tagged either. Closed the week near week low and above Y-1.
Outlook Inside week. No real direction established yet. Y-1 is the obvious target to tag but it may not happen because it may choose to move back to Y-0 / B-0 area again. Further compression of the range will make this a great breakout trade setup.
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
Recap of last week Tried twice to stage a reversal, the second one is not completed yet. The range of 81.30 – 81.50 is the 50% downside expansion from ...
USDCAD Apr 29 to May 03 Outlook
Lawrence’s Comment
Spent most part of the week above Y-0 and right below Y+1 but failed to make a push above Y+1. Then the pair simply dropped through Y-0 as if it is not there at all. No support from Y-0 points to Y-1 as target. Yet the target was not tagged either. Closed the week near week low and above Y-1.
Outlook
Inside week. No real direction established yet. Y-1 is the obvious target to tag but it may not happen because it may choose to move back to Y-0 / B-0 area again. Further compression of the range will make this a great breakout trade setup.
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