Recap Slided further down near Y-2 but bounced off before tagging the price level. Rejected by Y-0 as expected. Closed the week near Y-1 and below midpoint.
Outlook Turning the top formation into a down channel structure. Once B+1 is breached to the upside, we get bull flag continuation.
As long as Y-0 / B+1 acting as resistance, looking for Y-2 to be tagged finally.
Lawrence's Comment
Recap
Dow tried hard to stay above Y+1 and its failure to do so led to a pullback capped by 50% previous week range. Strong rally off the support brought ...
Lawrence's Comment
Recap
Consolidation actions around Y+1 most part of the week. Jawboning happened by Japanese officials but no impact on the price actions so far. Closed the week above Y-0 and ...
GBPUSD Oct 08 to Oct 12 Outlook
Lawrence’s Comment
Slided further down near Y-2 but bounced off before tagging the price level. Rejected by Y-0 as expected. Closed the week near Y-1 and below midpoint.
Outlook
Turning the top formation into a down channel structure. Once B+1 is breached to the upside, we get bull flag continuation.
As long as Y-0 / B+1 acting as resistance, looking for Y-2 to be tagged finally.
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