Recap Violent reactions to hold onto the uptrend after breach of Y-1 has failed as the resistance zone above was rejected decisively. That opened the door to Y-1 again and later printed the Y-2 target. Closed the week near Y-1 and below midpoint.
Outlook Decisively rejection of Y+1 and above is now confirmed. Daily up trend not broken yet making this a transitional week that can go both ways.
For now, as long as Y-0 / B-0 zone is acting as resistance, more downside is likely with Y-3 and B-2 targets.
Lawrence's Comment
Recap
As mentioned last week, it would be a difficult ride down. Monday broken down only resulted in an all out squeeze back up in last hour. Then ...
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
Aussie successfully cleared 4 hour down channel top, giving us Y+1 and then Y+2. Closed the week near Y+2 and week high.
Outlook
Aussie's recovery against US dollar can ...
GBPUSD Jul 21 to Jul 25 Outlook
Lawrence’s Comment
Violent reactions to hold onto the uptrend after breach of Y-1 has failed as the resistance zone above was rejected decisively. That opened the door to Y-1 again and later printed the Y-2 target. Closed the week near Y-1 and below midpoint.
Outlook
Decisively rejection of Y+1 and above is now confirmed. Daily up trend not broken yet making this a transitional week that can go both ways.
For now, as long as Y-0 / B-0 zone is acting as resistance, more downside is likely with Y-3 and B-2 targets.
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