Recap Bounced off the close of previous week and zoomed up to Y+1 before it stalled. Y-0 acted as support and sending the pair back up to Y+1 again. Closed the week below Y+1.
Outlook A breakout above B+1 with that turning into support will give us the confirmed continuation of this uptrend on daily.
Failure to do so, the pair will enter a consolidation phase where it will be trapped within 1.05 down to 0.99 for a long time.
Lawrence's Comment
Recap
Similar to Dow, the bear trap built on Monday caught many bears by surprise and forced them to give up. The gap above, however, capped the rally. Bounced ...
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 Nov 07 to Nov 11 Outlook
Lawrence’s Comment
Bounced off the close of previous week and zoomed up to Y+1 before it stalled. Y-0 acted as support and sending the pair back up to Y+1 again. Closed the week below Y+1.
Outlook
A breakout above B+1 with that turning into support will give us the confirmed continuation of this uptrend on daily.
Failure to do so, the pair will enter a consolidation phase where it will be trapped within 1.05 down to 0.99 for a long time.
Share