Recap Upside breakout got Y+3 target quickly. Y+3 turned into support and sent this higher. Stop run took over and cleared 1.37. Closed the week above Y+5 and at week high.
Outlook 350 pips run in Canadian dollar is very rare. Long term bullish view worked out beautifully. More upside is in store with consolidation likely this week. Pullback to Y+5 is normal.
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
Lawrence's Comment
Recap
Rejected Y-1 early in the week provided fuel for Euro to challenge Y+1. Stopped at 100% absolute range expansion. Y-0 acted as support on pullback. Closed the week above ...
Lawrence's Comment
Recap
As indicated in the comments for Dow, we got the sell climax reading in breadth on Monday and that marked the end of the selloff. Rallied all the ...
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 Dec 14 to Dec 18 Outlook
Lawrence’s Comment
Upside breakout got Y+3 target quickly. Y+3 turned into support and sent this higher. Stop run took over and cleared 1.37. Closed the week above Y+5 and at week high.
Outlook
350 pips run in Canadian dollar is very rare. Long term bullish view worked out beautifully. More upside is in store with consolidation likely this week. Pullback to Y+5 is normal.
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