Trading Edges That Last
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Lawrence's Comment Recap Bullish bias worked out in earlier part of the week but failed to stay above Y+1 to get to the upside target. FBO against Y+1 gave us Y-0 downside ...READ MORELawrence's Comment Recap Went higher as expected. Then consolidated above Y+1. Closed the week at week high. Outlook More upside expected early next week. Sudden reversal near Y+2 points to a drop ...READ MORELawrence's Comment Recap What normal up drift? That bias was thrown out of the window right on Monday. Wednesday gapped higher and that defined the high of the week. Tagged ...READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREIntraday Cycle Projection (USDCAD) 2015-07-14Precog Vision – Forex 2018-12-20USDCAD Aug 12 to Aug 16 OutlookDow 30 Aug 13 to Aug 17 OutlookIntraday Cycle Projection (USDCAD) 2013-01-23Weekly Cycle Projection (USDCAD) 2011-12-19S&P 500 Dec 31 to Jan 04 OutlookPrecog Vision – Forex 2015-3-16Intraday Cycle Projection (USDCAD) 2021-10-11Precog Vision – Forex 2011-3-16
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USDCAD Oct 28 to Nov 01 Outlook
Lawrence’s Comment
Expected to see lower price and we got that. It turned into a FBO against Y-1 which triggered the Y+1 target. Y+1 only offered a pause. Closed the week at Y+2 and near week high.
Outlook
I thought Loonie would slow down its pace at the previous consolidation zone. I did not expect the strong reaction at the support. That confirmed higher timeframes continue to support strong US dollar against Loonie.
This week, as long as Y+1 acting as support, more upside should not be a problem. 1.08 was the last important magnet up there. Give them an excuse, that will be the next upside target.
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