Recap The collapse of gold price in the beginnng of the week rejected the possibility of further weaknesses. So the other direction came in force. 1-2-3 buy against Y-0 sent the pair to Y+3 (classic reversal first target).
Outlook Messy price action as traders scrambled to cover their shorts. A bit more upside is in play early part of the week and then consolidation is expected within Y+2 to B+1. Gold price is the driving force at the moment.
Lawrence's Comment
Recap
Consolidation with tight range around Y-1. Closed the weekbelow Y-1 and near week low.
Outlook
Waterfall effect points to potential drop down to Y-2 and Y-3 before support is ...
Lawrence's Comment
Recap
Consolidation in our prescribed range most of the week until Fed announcement took place. Then all out short squeeze started until 100% absolute range expansion reached by ...
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
Enough people thought that they are so smart in recognizing the Friday prior to lask week as some kind of capitulation, they got themselves into a wild ride ...
USDCAD May 09 to May 13 Outlook
Lawrence’s Comment
The collapse of gold price in the beginnng of the week rejected the possibility of further weaknesses. So the other direction came in force.
1-2-3 buy against Y-0 sent the pair to Y+3 (classic reversal first target).
Outlook
Messy price action as traders scrambled to cover their shorts. A bit more upside is in play early part of the week and then consolidation is expected within Y+2 to B+1.
Gold price is the driving force at the moment.
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