Recap Double top setup to break Y-0 early in the week. 100% absolute range expansion to the downside and stopped right there. Snapped back above Y-0 and turning that into support. Y+2 target eventually tagged but sold off back down to Y-0.
Outlook Used up 200% range of prior week and still cannot close outside of B+1 and B-1.
Bullish scenario is that B-0 acts as support early in the week and send the pair to B+1 again.
Consolidation scenario will find support at Y-1 and resistance at Y+1.
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
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
Weakest of the big 3 indices, Dow consolidated around Y-1 without giving us any directional move. Closed the week below Y-1 and near midpoint.
Outlook
Bull flag on daily ...
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 Jun 20 to Jun 24 Outlook
Lawrence’s Comment
Double top setup to break Y-0 early in the week. 100% absolute range expansion to the downside and stopped right there. Snapped back above Y-0 and turning that into support. Y+2 target eventually tagged but sold off back down to Y-0.
Outlook
Used up 200% range of prior week and still cannot close outside of B+1 and B-1.
Bullish scenario is that B-0 acts as support early in the week and send the pair to B+1 again.
Consolidation scenario will find support at Y-1 and resistance at Y+1.
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