Recap Y-1 support gave us test of Y-0 and above resistance. Failed to hold above Y-0 gave us retest of Y-1 and a break down to Y-2. Closed the week near Y-2 and week low.
Outlook Stop hunt driven move does not last. Y-2 / Y-3 strong support on higher tiimeframes. Support zone holds a retest of Y-1/ B-0 from below is likely.
Lawrence's Comment
Recap
Started the week holding Y-0. Upside breakout tagged target Y+2 and stalled. Struggled to hold Y+1 since. Closed the week above Y+1 and near midpoint.
Outlook
1.13 and above ...
Lawrence's Comment
Recap
I was looking for a pullback to B-0 early in the week. That worked out as expected. Then a bounce back up to at least a retest ...
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
USDCAD Feb 29 to Mar 04 Outlook
Lawrence’s Comment
Y-1 support gave us test of Y-0 and above resistance. Failed to hold above Y-0 gave us retest of Y-1 and a break down to Y-2. Closed the week near Y-2 and week low.
Outlook
Stop hunt driven move does not last. Y-2 / Y-3 strong support on higher tiimeframes. Support zone holds a retest of Y-1/ B-0 from below is likely.
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