Recap Down side push resulted in a clean break out down to Y-2 target. Immediately price snap back above Y-1 and staged a run to Y+1 from the FBO against Y-1. Closed the week above Y-0 and midpoint.
Outlook Sellers discovered above Y+1. It implies as long as B-0 holds, a run back up (can be a slow one) to retest Y+1 is likely.
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
3 pushes top then freefall to test and then fill the gap below. Violent swings too. Closed the week below midpoint but higher than Y-1.
Outlook
Definitely not as ...
USDCAD Nov 03 to Nov 07 Outlook
Lawrence’s Comment
Down side push resulted in a clean break out down to Y-2 target. Immediately price snap back above Y-1 and staged a run to Y+1 from the FBO against Y-1. Closed the week above Y-0 and midpoint.
Outlook
Sellers discovered above Y+1. It implies as long as B-0 holds, a run back up (can be a slow one) to retest Y+1 is likely.
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