Recap Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
ContentReviewEuro Ready For a Steep PullbackS&P at Middle of NowhereGold Reached Minimum Upside TargetBitcoin Killing Time Before Next Move10-Year Note Yield Testing Weekly Trendline SupportBig Picture SummaryReviewEuro tagged the resistance ...
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GBPUSD Jul 16 to Jul 20 Outlook
Lawrence’s Comment
Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook
The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
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