Recap Moved back to support as expected and the structured selling reappeared. Finally the support level was broken leading to a flush doubling the consolidation range and tagged Y-1 in 1 go. Closed the week above Y-1 and below midpoint.
Outlook As mentioned last week, it was a 50/50 bet for the pair to hold the support level.
As long as Y-1 acting as support, looking for a retest of B+1 in the making.
Lawrence's Comment
Recap
Failed right at the resistance zone mentioned last week and collapsed down to Y-2 target. Bounced from there and tested week mid. Failed to go above week mid and ...
Lawrence's Comment
Recap
Held Y-1 as support, took off and tagged Y+1. That part was expected. The failure to go higher than Y+1 leading to a pullback was also expected. ...
Lawrence's Comment
Recap
Y-0 support sent NQ up above Y+1 but it fails to hold above that which led to sell off back down to Y-0 and below. Y-0 was cleared quickly ...
USDCAD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Moved back to support as expected and the structured selling reappeared. Finally the support level was broken leading to a flush doubling the consolidation range and tagged Y-1 in 1 go. Closed the week above Y-1 and below midpoint.
Outlook
As mentioned last week, it was a 50/50 bet for the pair to hold the support level.
As long as Y-1 acting as support, looking for a retest of B+1 in the making.
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