Trading Edges That Last
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Lawrence's Comment Recap Ninja attempted to hold Y-1 but capped by 118 round number. Eventually flushed down to equal distance from previous week close. Closed the week below Y-1 and midpoint. ...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 MORELawrence's Comment Recap Bad data affected this chart. Aussie pushed higher above Y+1 but failed to hold up at the end and dropped all the way back to Y+1. Closed the week ...READ MORELawrence's Comment Recap Y-0 support sent this higher to test Y+1. Turned lower below Y+1 opening the door to Y-1. Y-1 tagged and bounced. Closed the week above Y-0 and B-0. ...READ MORE3DP Odds Table (USDCAD) 2018-12-313DP Odds Table (USDCAD) 2011-06-06Hot n Cold (USDCAD) 2017-7-14USDJPY Jan 18 to Jan 22 OutlookPrecog Vision – Forex 2017-7-6AUDUSD Mar 30 to Apr 03 OutlookIntraday Cycle Projection (USDCAD) 2023-03-313DP Odds Table (USDCAD) 2018-06-043DP Odds Table (USDCAD) 2022-09-07USDCAD Sep 26 to Sep 30 Outlook
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USDCAD Jan 28 to Feb 01 Outlook
Lawrence’s Comment
Consolidation above Y-0 not only gave us a rally to retest Y+1, it also gave us a clean breakout leading to a squeeze to Y+3. Closed the week near Y+1 and above midpoint.
Outlook
The upside breakout was strongly correlated to the selloff in gold.
The breakout has breached multiple weekly resistance hence the long term down trend is now broken. This does not translate into a strong rally automatically because it will take time to build a better base before it can go higher.
Next week as long as Y+5 is putting a cap on the up swing, consolidation around B+1 is expected.
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