Recap Y-0 did not act as support at all on first test. This opened the door to Y-1 and the test of Y-1 led to a strong bounce. Closed the week near Y-0 and midpoint.
Outlook Closing near midpoints means indecision. Y-1 / B-1 confirmed strong support, until proven otherwise, as long as B-0 down to B-1 acting as support, a test of B+1 and B+2 will be in play.
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
Dow took off running higher off the European rumors on financials in the beginning of the week. Several more false rumors were spreaded to keep Dow from dropping. ...
Lawrence's Comment
Recap
Warned in my premium member newsletter special update that extreme wild swings were expected last week. Also warned here last week that whiplash coming. We got wild swings in ...
Lawrence's Comment
Recap
Gapped above Y+1 to start the week but failed to hold above. As a result, a quick rush down to Y-0 and in turn opened the door to Y-1. ...
USDCAD May 11 to May 15 Outlook
Lawrence’s Comment
Y-0 did not act as support at all on first test. This opened the door to Y-1 and the test of Y-1 led to a strong bounce. Closed the week near Y-0 and midpoint.
Outlook
Closing near midpoints means indecision. Y-1 / B-1 confirmed strong support, until proven otherwise, as long as B-0 down to B-1 acting as support, a test of B+1 and B+2 will be in play.
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