Recap Y-1 breached early in the week points to a drop to Y-2 and below in the making. Sold off until Y-2 / 1.20 round number level attracted buyers. Bounced back up since. Closed the week above Y-1 and near week high.
Outlook Strong support at Y-1 / B-0 with B+2 in play in coming weeks.
Lawrence's Comment
Recap
FBO in the beginning of the week triggered the bearish scenario. Pullback to Y-0 as mentioned last week. Closed the week near week mid.
Outlook
Overall weekly uptrend intact. ...
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 May 04 to May 08 Outlook
Lawrence’s Comment
Y-1 breached early in the week points to a drop to Y-2 and below in the making. Sold off until Y-2 / 1.20 round number level attracted buyers. Bounced back up since. Closed the week above Y-1 and near week high.
Outlook
Strong support at Y-1 / B-0 with B+2 in play in coming weeks.
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