Trading Edges That Last
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Lawrence's Comment Recap As expected, a bottom was formed early in the week, gave us a run back up to Y-0 and stalled. This can be puzzling for many daytraders but it ...READ MORELawrence's Comment Recap Edged higher in the beginning of the week. Spent 2 days forming a classic spike and ledge top leading to the flush back down to Y-0, support zone ...READ MORELawrence's Comment Recap Rallied 1st to Y+1 without testing Y-0 set the stage for FBO back down to Y-1. Y-1 cleared with no resistance at all. Landed at Y-2 normal downside target. ...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 Jul 01 to Jul 05 OutlookHot n Cold (USDCAD) 2014-3-14Intraday Cycle Projection (USDCAD) 2021-07-12Dow 30 Aug 06 to Aug 10 Outlook3DP Odds Table (USDCAD) 2011-09-23USDCAD Sep 01 to Sep 05 OutlookPrecog Vision – Forex 2018-12-4Intraday Cycle Projection (USDCAD) 2014-07-25Weekly Cycle Projection (USDCAD) 2016-11-21Intraday Cycle Projection (USDCAD) 2022-07-18
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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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