Trading Edges That Last
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Lawrence's Comment Recap Y-0 resistance sent Euro lower. Y-1 not strong support as explained last time. Euro found support after 100% absolute range expansion to the down side. Strong bounce back up ...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 Was looking for resistance at Y+1 going back down to Y-0. We got that and euro was stuck since. Closed the week near Y-0 and below midpoint. Outlook Breaking below B-1 ...READ MOREEURUSD Mar 30 to Apr 03 OutlookPrecog Vision – Forex 2021-10-27Intraday Cycle Projection (USDCAD) 2016-02-12EURUSD Nov 23 to Nov 27 OutlookPrecog Vision – Forex 2022-12-133DP Odds Table (USDCAD) 2016-07-04Hot n Cold (USDCAD) 2022-2-11USDJPY Mar 18 to Mar 22 Outlook3DP Odds Table (USDCAD) 2011-11-15EURUSD Apr 21 to Apr 25 Outlook
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USDCAD Jul 18 to Jul 22 Outlook
Lawrence’s Comment
Multiple news shocks caused both Loonie and Aussie to swing wildly. This week is a good example showing that when the participants are more emotional, you get the more natural Fibonacci price level of 1.618. That happened in the beginning of the week when Canadian dollar rallied above Y+2. Ended the week however, down at our original target of Y-2 at 200% absolute range expansion.
Outlook
The spike up in the past week actually give more fuel to the downside than helping the pair to find a decent bottom. Since this coming week will clearly be affected by news coming from US, it is best to stay off longer term trade on this pair and focus on intraday setups only.
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