Made a new low against the low of the week before, and tested 50% of previous month exactly. The quick run up stopped at 100% relative expansion based on the range of the week prior.
Next week outlook
As monthly price zone entered the scene, we know a significant move is in the making. Previous month high will be tested (yellow zone). If it is taken out quickly, a rally towards 50% expansion of initiation period of this quarter is expected (green zone). A failed test at yellow zone will force the pair to drop back down to previous week low (red zone).
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
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 ...
Lawrence's Comment
Recap
The most timid index out of the 3 major indices. Opened the week near Y+1 and resistance there pressed ES lower. Ledge action led to upside breakout into Brexit. ...
USDJPY Week of Dec 13th to Dec 17th Outlook
Recap of last week
Made a new low against the low of the week before, and tested 50% of previous month exactly. The quick run up stopped at 100% relative expansion based on the range of the week prior.
Next week outlook
As monthly price zone entered the scene, we know a significant move is in the making. Previous month high will be tested (yellow zone). If it is taken out quickly, a rally towards 50% expansion of initiation period of this quarter is expected (green zone). A failed test at yellow zone will force the pair to drop back down to previous week low (red zone).
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