Recap Started the week holding Y-0. Upside breakout tagged target Y+2 and stalled. Struggled to hold Y+1 since. Closed the week above Y+1 and near midpoint.
Outlook 1.13 and above rejected but support below Y+1 has fended off the selling twice too. One side must give in. Until then, hands off this pair.
Best setup is a clean break of B-1 with that turning into resistance, which will give us B-2 quickly with B-3 in the card.
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 20 to Oct 24 Outlook
Lawrence’s Comment
Started the week holding Y-0. Upside breakout tagged target Y+2 and stalled. Struggled to hold Y+1 since. Closed the week above Y+1 and near midpoint.
Outlook
1.13 and above rejected but support below Y+1 has fended off the selling twice too. One side must give in. Until then, hands off this pair.
Best setup is a clean break of B-1 with that turning into resistance, which will give us B-2 quickly with B-3 in the card.
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