"Weekly Outlook" Posts
GBPUSD Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Bounced off support zone mentioned last week. Tagged upside targets and consolidated since. Closed the week above Y-0 and midpoint. Outlook As explained last week, a complex pullback is in the making and we got it now. As long as B+1 acting as resistance, a test of B-1 is likely. Once B+1 […]
Dow 30 Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Violent reaction to Greece situation kickstarted the week. Strong gap breakout to the upside points to Y+3 in play. We got Y+3 and Dow was stuck since. Closed the week above Y+2 and B-0. Outlook Upside triangle with upside breakout from the week before the prior one is a dirty bottom. This […]
Nasdaq 100 Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Surprise upside breakout gave us Y+3 target. It was reached mid week and as more shorts are trapped, an all out squeeze sent NQ up to Y+5. Closed the week near Y+5 and week high. Outlook Huge gaps left behind points to instability. 2-way swings expected with deep pullback to B-0 possible.
EURUSD Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap As explained last week, do not confuse volatility as strength. Y-0 breached quickly led to Y-1 test in play. Y-0 turned into resistance since. Y-1 could not even stop euro for several hours. Closed the week below Y-1 and near week low. Outlook The long term important support at 1.10 is now […]
USDCAD Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Test of Y+1 led to breakout to the upside. Breakout target Y+3 was tagged by the end of the week. Closed the week above Y+2 and near week high. Outlook Stop run actions were seen. B-0 / Y+1 support until proven otherwise. A pullback to support can happen but not necessary. Consolidation […]
USDJPY Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Rallied to Y+2 as expected after breakout of Y+1 and that it turns into support. Closed the week near Y+2 and week high. Outlook Rising wedge on 4 hour is not that bullish. A slightly higher higher above B+1 with immediate reversal will give us Y+1 target to the down side.
S&P 500 Jul 20 to Jul 24 Outlook
By News Robot
Lawrence’s Comment Recap Gap and go points to at least tagging Y+2 and we got that first thing in the week. Y+2 turned into support sending ES up to Y+3. Closed the week near Y+3 and week high. Outlook Consolidation actions expected around B+1 at 50% range. Summer actions means more likely the market will […]
EURUSD Apr 20 to Apr 24 Outlook
By News Robot
Lawrence’s Comment Recap Y-1 breached early in the week but did not act as resistance. W. spring formed with Y-1 acting as support sending euro back up to Y-0. Closed the week near Y-0 and above midpoint. Outlook Consolidation up drift back to Y-0 resistance zone is not a surprise. Back to weekly down trend […]
GBPUSD Apr 20 to Apr 24 Outlook
By News Robot
Lawrence’s Comment Recap Everything changed over the weekend in Europe. Cable found support at Y-1 and forced a test of Y-0. That in turn provided fuel for cable to clear Y-0 gunning for Y+1. Closed the week near Y+1 and above midpoint. Outlook Outside week reversal against the just established down trend indicates many people […]
AUDUSD Jul 20 to Jul 24 Outlook
Lawrence’s Comment Recap Test of Y-1 as expected. Y-1 support all week. Closed the week near Y-1 and below midpoint. Outlook 2nd consolidation week with weak close is bearish. Until B-0 turning into support, down trend can lead to a flush down to B-3.