Recap Y-1 acted as support. Bounced back up to Y-0 and found resistance. Dropped to equal distance below previous week close. Closed the week near Y-1 and below midpoint.
Outlook Consolidation week with close near Y-1 and midpoint is normal after a strong trending week. Continuation to the down side is possible if B-0 acts as resistance. A 3rd push down to 1.28 / Y-2 zone may lead to stronger reaction to the upside.
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
Y+1 resistance with BoJ announcement killed the upside immediately. News shock target of Y-1 cleared with Y-2 almost tagged. Closed the week near Y-2 and week low.
Outlook
Reactionary ...
Lawrence's Comment
Recap
Bearish down trend in force all week. 100% absolute range expansion led to a strong bounce. Closed the week near Y-1 and below midpoint.
Outlook
Breaking above down ...
Lawrence's Comment
Recap
A forced rally early in the week due to the bull trap from gold tagged Y+2 but it did not last. The dirty bottom at Y-1 was retested as ...
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 Oct 19 to Oct 23 Outlook
Lawrence’s Comment
Y-1 acted as support. Bounced back up to Y-0 and found resistance. Dropped to equal distance below previous week close. Closed the week near Y-1 and below midpoint.
Outlook
Consolidation week with close near Y-1 and midpoint is normal after a strong trending week. Continuation to the down side is possible if B-0 acts as resistance. A 3rd push down to 1.28 / Y-2 zone may lead to stronger reaction to the upside.
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