Recap Another week of consolidation as expected. Bear flag in beginning of the week drove the price down to Y-1 for a retest. W. spring formed and sent it back up to Y-0 and stalled. Closed the week below Y-0 and above midpoint.
Outlook Weekly level consolidation will continue until either end of the consolidation range is breached. The way a base is built at Y-1 / B-1 zone so far implies bullish continuation on weekly with B+2 / Y+1 to be tested eventually.
Lawrence's Comment
Recap
Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed ...
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
Bearish bias on euro pays off. Euro could not hold previous week close and fell back down to Y-0. Not much bounce was observed when euro continue to drop ...
USDCAD Apr 13 to Apr 17 Outlook
Lawrence’s Comment
Another week of consolidation as expected. Bear flag in beginning of the week drove the price down to Y-1 for a retest. W. spring formed and sent it back up to Y-0 and stalled. Closed the week below Y-0 and above midpoint.
Outlook
Weekly level consolidation will continue until either end of the consolidation range is breached. The way a base is built at Y-1 / B-1 zone so far implies bullish continuation on weekly with B+2 / Y+1 to be tested eventually.
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