Recap Held Y-0 instead of testing Y-1. Directly go for upside breakout gave us the Y+3 target. Y+3 tagged and pullback since. Closed the week above Y+2 and midpoint.
Outlook The upside breakout is in line with the weekly up trend. This suggests much higher price level is now possible as long as this 1.23 to 1.25 zone acting as support.
This week consolidation likely after the wide range week.
Lawrence's Comment
Recap
Went higher as expected. Then consolidated above Y+1. Closed the week at week high.
Outlook
More upside expected early next week.
Sudden reversal near Y+2 points to a drop ...
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
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 Jul 06 to Jul 10 Outlook
Lawrence’s Comment
Held Y-0 instead of testing Y-1. Directly go for upside breakout gave us the Y+3 target. Y+3 tagged and pullback since. Closed the week above Y+2 and midpoint.
Outlook
The upside breakout is in line with the weekly up trend. This suggests much higher price level is now possible as long as this 1.23 to 1.25 zone acting as support.
This week consolidation likely after the wide range week.
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