Recap Gap down and consolidated around B-0. Then zoomed higher as expected. Another easy play last week. Closed the week above Y+2.
Outlook The target of Y+3 should be reached early next week. Strong support at B-0 if it chooses to consolidate.
1.05 historically often act as resistance on quick runups. So early next week tagging 1.05 with no pullback first means potential sell setup will be formed right there.
Lawrence's Comment
Recap
Y-0 never acted as support at all as news shock has created wild swings around Y-0. Closed the week close to B-1.
Outlook
Still looking for bullish continuation once B-0 ...
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
Took a whole week of up drift to go back up to the top of the resistance zone mentioned last week. Tight range and no conviction. Closed the week ...
USDCAD Jun 04 to Jun 08 Outlook
Lawrence’s Comment
Gap down and consolidated around B-0. Then zoomed higher as expected. Another easy play last week. Closed the week above Y+2.
Outlook
The target of Y+3 should be reached early next week. Strong support at B-0 if it chooses to consolidate.
1.05 historically often act as resistance on quick runups. So early next week tagging 1.05 with no pullback first means potential sell setup will be formed right there.
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