Recap Twists and turns in the events leading to Brexit vote caused cable to run the stops above. Due to limited liquidity cable cannot stop its stop run until long term key resistance at 1.50 was tagged. Brexit vote count turned the tide thus giving us equal distance downside target off previous week range. Closed the week near Y-3 and below midpoint.
Outlook Brexit or not the outcome should still be the same – down, as the one standing to benefit from the fallout of Brexit can only be US. Y-1 / B-0 very strong resistance. Expect more wild rides as margin hikes are reported everywhere.
Lawrence's Comment
Recap
ES acted as bullish as it can be as expected last week. But that strength disappeared when the fiscal cliff talks taking over the media. During Thursday ...
Lawrence's Comment
Recap
In sync with Dow, but weaker, NQ struggled to clear Y+1 and eventually fall back down to Y-0. Y-0 support gave it fuel to go up to Y+2. Closed ...
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GBPUSD Jun 27 to Jul 01 Outlook
Lawrence’s Comment
Twists and turns in the events leading to Brexit vote caused cable to run the stops above. Due to limited liquidity cable cannot stop its stop run until long term key resistance at 1.50 was tagged. Brexit vote count turned the tide thus giving us equal distance downside target off previous week range. Closed the week near Y-3 and below midpoint.
Outlook
Brexit or not the outcome should still be the same – down, as the one standing to benefit from the fallout of Brexit can only be US. Y-1 / B-0 very strong resistance. Expect more wild rides as margin hikes are reported everywhere.
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