Recap Trapped within Y-1 to Y+1 as expected. Nothing much can be done while loonie is stuck in a tight range. Closed the week at Y+1.
Outlook Loonie looks like it wanted to break out above Y+1 but it stucks there. If it slides a tad more to the down side, it will drop quickly back down to Y-1. That is the nature of congestion.
Wait for clean breakout from this week’s range for a good run.
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
FBO against Y+1 gave us Y-0 and the next support below. Closed the week above Y-0 and midpoint.
Outlook
Non-stop intervention by ECB and other central banks, Euro has ...
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 Nov 21 to Nov 25 Outlook
Lawrence’s Comment
Trapped within Y-1 to Y+1 as expected. Nothing much can be done while loonie is stuck in a tight range. Closed the week at Y+1.
Outlook
Loonie looks like it wanted to break out above Y+1 but it stucks there. If it slides a tad more to the down side, it will drop quickly back down to Y-1. That is the nature of congestion.
Wait for clean breakout from this week’s range for a good run.
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