Trading Edges That Last
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Lawrence's Comment Recap Euro tagged Y-1 and then rejected it on a retest, giving us the Y+1 target as mentioned last week. Euro zoomed through Y+1 and Y+2 quickly. Closed the week ...READ MORELawrence's Comment Recap Consolidation as expected. 50% previous week range around Y-0. Closed above Y-0 and midpoint. Outlook As mentioned last week, "it looks like weekly level pullback but should be treated as consolidation". ...READ MOREFor 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 scheduleREAD MORES&P 500 May 11 to May 15 OutlookUSDCAD Feb 15 to Feb 19 OutlookPrecog Vision – Forex 2017-6-153DP Odds Table (USDCAD) 2023-05-02EURUSD Oct 21 to Oct 25 OutlookEURUSD Sep 19 to Sep 23 OutlookGBPUSD May 20 to May 24 OutlookUSDJPY Jul 22 to Jul 26 OutlookPrecog Vision – Forex 2021-2-183DP Odds Table (USDCAD) 2014-08-13
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USDCAD Feb 06 to Feb 10 Outlook
Lawrence’s Comment
Tried to bottom out at 1.0 and failed. Closed the week below 1.0 and at the low of the week.
Outlook
As mentioned last week, loonie is sitting at a critical juncture. Its relative strength over the dollar is mostly a function of the strength in gold.
If the pair can bounce off quickly above 1.0 and that turning into support, then it has likely found a longer term bottom here.
If 1.0 turns into resistance a quick slide down to 0.95-0.96 is in play.
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