Recap Held Y-0 instead of testing Y-1. Directly go for upside breakout gave us the Y+3 target. Y+3 tagged and pullback since. Closed the week above Y+2 and midpoint.
Outlook The upside breakout is in line with the weekly up trend. This suggests much higher price level is now possible as long as this 1.23 to 1.25 zone acting as support.
This week consolidation likely after the wide range 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
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
Dropped below Y-1 and popped back up immediately. That put Y-0 in play and tagged Y-0 quickly. Failure to go higher from Y-0 sent it back down ...
USDCAD Jul 06 to Jul 10 Outlook
Lawrence’s Comment
Held Y-0 instead of testing Y-1. Directly go for upside breakout gave us the Y+3 target. Y+3 tagged and pullback since. Closed the week above Y+2 and midpoint.
Outlook
The upside breakout is in line with the weekly up trend. This suggests much higher price level is now possible as long as this 1.23 to 1.25 zone acting as support.
This week consolidation likely after the wide range week.
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