Recap Did not comment on this pair last week somehow. The spike low last week is a rejection so the normal expectation is to get Y+2 and higher. However, the pair was trapped right below Y+1 all week. The spike up at the end of the week failed to create a breakout. Closed the week below Y+1.
Outlook Staying below Y+1 is a sign of weakness. Spike high end of the week led to a FBO so pull back to B-2 / Y-0 likely.
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
The expectation Euro would be a difficult play was correct. Due to ECB and Greece fighting, Euro spiked up and down depending on the news fed out at the ...
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
USDCAD Nov 19 to Nov 23 Outlook
Lawrence’s Comment
Did not comment on this pair last week somehow. The spike low last week is a rejection so the normal expectation is to get Y+2 and higher. However, the pair was trapped right below Y+1 all week. The spike up at the end of the week failed to create a breakout. Closed the week below Y+1.
Outlook
Staying below Y+1 is a sign of weakness. Spike high end of the week led to a FBO so pull back to B-2 / Y-0 likely.
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