Recap Strong reactions around Y-1. 100% absolute range expansion capped the moves. Closed the week below Y-1 and midpoint.
Outlook Y+1 now important resistance to clear to confirm weekly pullback completion. 1.32 down to 1.30 consolidation important for the monthly uptrend to continue.
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
Consolidation around Y-1 at 50% range as expected. Closed the week above Y+1 and midpoint.
Outlook
Consolidation with strength to close above Y+1 is bullish.
Potential FBO against Y+1 if cable fails ...
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
Was looking for a breakout and it turned into another tight range week consolidating around Y+1. Closed the week near Y+1 and at midpoint.
Outlook
Potential breakout failure ...
USDCAD Mar 14 to Mar 18 Outlook
Lawrence’s Comment
Strong reactions around Y-1. 100% absolute range expansion capped the moves. Closed the week below Y-1 and midpoint.
Outlook
Y+1 now important resistance to clear to confirm weekly pullback completion. 1.32 down to 1.30 consolidation important for the monthly uptrend to continue.
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