Recap Breakout above Y+1 forced shorts to give up and a drift back up to the crime scene where the original strong selloff reaction started. Once the crime scene was tagged, renew selling showed up and forced price straight down. Closed the week below Y-0 and near week low.
Outlook The weekly level consolidation continues. On one hand Y-1 is proven to be important support. On the other hand, B+1 is very important resistance now. Price will be trapped inside this range with very wild swings in between because size players are not willing to risk at price levels in-between.
Lawrence's Comment
Recap
No strength to push above Y+1, lower prints happened. Pretty much as expected. The more interesting part is that gold has broken its daily down trend by the end ...
Lawrence's Comment
Recap
Original expectation of a push back to at least Y-0 and then Y+1 was correct. Aussie failed to push thru Y+1 and sold off since. Closed the week below ...
Lawrence's Comment
Recap
Euro dropped to Y-1 and found support right below. 4 hour bottom from there sent euro back up to near Y+1. Euro paused when it reached 100% absolute range ...
Lawrence's Comment
Recap
Slingshot reversal as expected. Hard selloff on Friday gave us the B-2 and below target. Closed the week near Y-3 and week low.
Outlook
Y-1 obvious resistance above but ...
USDCAD Apr 06 to Apr 10 Outlook
Lawrence’s Comment
Breakout above Y+1 forced shorts to give up and a drift back up to the crime scene where the original strong selloff reaction started. Once the crime scene was tagged, renew selling showed up and forced price straight down. Closed the week below Y-0 and near week low.
Outlook
The weekly level consolidation continues. On one hand Y-1 is proven to be important support. On the other hand, B+1 is very important resistance now. Price will be trapped inside this range with very wild swings in between because size players are not willing to risk at price levels in-between.
Share