Lawrence's Comment
Recap
Aussie held previous week close and then bounced back up to resistance zone / channel top. Channel top confirmed as resistance with Y-1 in play. Y-0 resumed its role ...
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
Aussie tried to push higher can failed due to the obvious weaknesses mentioned last week. Ended up another consolidation week with tight range. Closed the week above Y-0 and ...
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 Aug 20 to Aug 24 Outlook
Lawrence’s Comment
As expected Y-1 failed to hold as support and another new low was made last week. Closed the week below Y-1 and midpoint.
Outlook
Weaknesses persisted but range has tightened. Love to see a violent breakout to the upside to end this down channel drifting actions.
Until I have more evidence that a low is in place, expect the weaknesses to continue.
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