Trading Edges That Last
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Many traders who took the plunge into trading forex do not know about many basic biases that are very useful but not very obvious. Not buying euro on Monday is ...READ MORELawrence's Comment Recap Held Y-1 in beginning of the week led to a bounce towards Y-0. Failed to reach Y-0 and retested Y-1 as expected. Consolidated around Y-1 since. Closed the week ...READ MORELawrence's Comment Recap As expected, consolidation price actions all week. Closed the week near midpoint and Y-0. Outlook Summer Games is not over yet. Inside week points to breakout in play. No point ...READ MOREPrecog Vision – Forex 2020-11-23DP Odds Table (USDCAD) 2022-05-31Why You Shouldn’t Long Euro On MondayAUDUSD Feb 04 to Feb 08 OutlookGBPUSD Aug 06 to Aug 10 Outlook3DP Odds Table (USDCAD) 2019-06-173DP Odds Table (USDCAD) 2011-05-093DP Odds Table (USDCAD) 2022-07-043DP Odds Table (USDCAD) 2016-04-21S&P 500 Jun 29 to Jul 03 Outlook
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USDCAD Oct 28 to Nov 01 Outlook
Lawrence’s Comment
Expected to see lower price and we got that. It turned into a FBO against Y-1 which triggered the Y+1 target. Y+1 only offered a pause. Closed the week at Y+2 and near week high.
Outlook
I thought Loonie would slow down its pace at the previous consolidation zone. I did not expect the strong reaction at the support. That confirmed higher timeframes continue to support strong US dollar against Loonie.
This week, as long as Y+1 acting as support, more upside should not be a problem. 1.08 was the last important magnet up there. Give them an excuse, that will be the next upside target.
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