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.
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
Seasonal year end updrift bias did not help the indices one bit. Fiscal cliff became an excuse to dump the indices to new low. Closed the week ...
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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