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.
Lawrence's Comment
Recap
The more interesting scenario happened. Cable held Y-0, breakout of Y+1 and gave us 1.60 and Y+3 in 1 go. Essentially no heat taken. Cannot ask for ...
Lawrence's Comment
Recap
Short squeeze back up to Y+1 as expected filling the open gap above. The move was so dirty that it was erased right after and led to spike reversal ...
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Lawrence's Comment
Recap
Bullish setup wroked out with Y+2 tagged. Since then weaknesses kicked in and dropped to Y-1. Closed the week near Y-1 and week low.
Outlook
Outside reversal week is ...
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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