Recap Y-1 support consolidation created a breakout play. Breaking above led to a surge to measured move target above Y+1. Closed the week above Y+1 and near week high.
Outlook 2nd push higher with strong resistance above at B+1 / Y+2. Clearing Y+2 quickly will lead to a quick run to B+3.
Lawrence's Comment
Recap
Quick slide down to Y-2 and took off back to above Y+0, just like what I described last week. Pullback / consolidation since. Closed the week below ...
Lawrence's Comment
Recap
Y-0 to Y+1 was not even challenged. Aussie dropped straight down to Y-3 , the 200% range expansion target. Bounced back up from there to close near Y-1.
Outlook
Down ...
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 Jul 28 to Aug 01 Outlook
Lawrence’s Comment
Y-1 support consolidation created a breakout play. Breaking above led to a surge to measured move target above Y+1. Closed the week above Y+1 and near week high.
Outlook
2nd push higher with strong resistance above at B+1 / Y+2. Clearing Y+2 quickly will lead to a quick run to B+3.
Consolidation below resistance more likely.
Share