Recap Bear flag breakdown gave us Y-1 and below as expected. Y-2 tagged and consolidation between Y-1 and Y-2 since. Closed the week below Y-1 and midpoint.
Outlook B-1 retest likely. Double bottom against B-1 points to at least a test of Y-0. Closing above B-0 will signal short term bottom in place.
Lawrence's Comment
Recap
Comparing to S&P, Dow dropped more significantly and displayed weaker price action all week. Of course, we now know JPM was the reason.
Outlook
Similar to S&P, Dow ...
Lawrence's Comment
Recap
Failed to hold up at the top support area and fell off the cliff like Dow. Closed the week tagging Y-1.
Outlook
Outside down week and closed almost at the ...
Lawrence's Comment
Recap
Consolidation around Y-1 at 50% range as expected. Closed the week above Y+1 and midpoint.
Outlook
Consolidation with strength to close above Y+1 is bullish.
Potential FBO against Y+1 if cable fails ...
USDCAD Apr 25 to Apr 29 Outlook
Lawrence’s Comment
Bear flag breakdown gave us Y-1 and below as expected. Y-2 tagged and consolidation between Y-1 and Y-2 since. Closed the week below Y-1 and midpoint.
Outlook
B-1 retest likely. Double bottom against B-1 points to at least a test of Y-0. Closing above B-0 will signal short term bottom in place.
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