Trading Edges That Last
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Lawrence's Comment Recap Compressed further early in the week leading to clean Breakout to the down side. 100% absolute range expansion stopped the drop. Closed the week below Y-1 and midpoint. ...READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREHot n Cold (USDCAD) 2012-2-283DP Odds Table (USDCAD) 2014-05-01Precog Vision – Forex 2016-1-12Hot n Cold (USDCAD) 2021-11-12USDJPY Mar 21 to Mar 25 OutlookPrecog Vision – Forex 2015-2-4Weekly Cycle Projection (USDCAD) 2017-04-17Precog Vision – Forex 2015-9-113DP Odds Table (USDCAD) 2019-01-163DP Odds Table (USDCAD) 2013-10-29
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USDCAD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
Cosolidated in Y-0 to Y+1 as expected. Then news shock came and a squeeze took the pair up to Y+3. Stalled from there since. Closed the week near Y+2 and above midpoint.
Outlook
As noted last week the long standing range for Loonie is 1.08 to 1.10. Clearing that and staying above has long term implication for the Canadian economy.
For now, a retest of the break out price near Y+1 is likely as the short squeeze was not as strong as it could be. Holding Y+1 to B-0 area by end of this week will point to more upside coming.
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