Recap Double news shock. First one sending the pair higher but it failed to stay above Y+1. Second one dropping the pair below Y-0 yet failed to keep it below Y-0 and closed the week above Y-0 near B-0.
Outlook The 2 rejection moves is telling us that Loonie is sitting at a zone it is comfortable in.
Consolidation around B-0 is expected until the boundary Y-1 or B+1 is violated.
Lawrence's Comment
Recap
Double top setup in place right from the start of the week. Test of Y-0 rejected giving us retest of Y-1 and gapped down to Y-2 and below. 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
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 Oct 10 to Oct 14 Outlook
Lawrence’s Comment
Double news shock. First one sending the pair higher but it failed to stay above Y+1. Second one dropping the pair below Y-0 yet failed to keep it below Y-0 and closed the week above Y-0 near B-0.
Outlook
The 2 rejection moves is telling us that Loonie is sitting at a zone it is comfortable in.
Consolidation around B-0 is expected until the boundary Y-1 or B+1 is violated.
Share