Recap Rallied right off the start clearing Y-0 and Y+1 in one go. That opened the door to Y+2. Got Y+2 mid week. Drifting sideway since. Closed the week below Y+2 and above midpoint.
Outlook Double rejection from past 3 weeks with eventual breakout to the upside points to more upside. Looking for B+2 and B+3 in coming weeks as long as B-0 acts as support.
Lawrence's Comment
Recap
Rallied 1st to Y+1 without testing Y-0 set the stage for FBO back down to Y-1. Y-1 cleared with no resistance at all. Landed at Y-2 normal downside target. ...
Lawrence's Comment
Recap
Reversal expectation played out. Euro rejected Y-1 and zoomed above Y+1 right after FOMC announcement. Strong reaction above Y+1. Closed the week above Y-0 and midpoint.
Outlook
Although euro ...
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
USDCAD Apr 22 to Apr 26 Outlook
Lawrence’s Comment
Rallied right off the start clearing Y-0 and Y+1 in one go. That opened the door to Y+2. Got Y+2 mid week. Drifting sideway since. Closed the week below Y+2 and above midpoint.
Outlook
Double rejection from past 3 weeks with eventual breakout to the upside points to more upside. Looking for B+2 and B+3 in coming weeks as long as B-0 acts as support.
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