"Weekly Outlook" Posts
Nasdaq 100 May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap 2-way action around previous week close. Head and shoulder breakdown capped by higher timeframe support below and led to a squeeze higher back up to shoulder top. Closed the week near Y-0 and above midpoint. Outlook Trapped between 2 strong price zones. Until either boundary of this 3 weeks consolidation range is […]
GBPUSD May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap Brexit effect controlling cable all week. FBO Y-1 in the beginning of the week sent cable back up to Y+1. Bull flag on 4 hours pullback to 1.44 round number to form inverse head and shoulder. Breakout of the neckline gave us Y+2. Strong reaction at Y+2 dropped cable back down to […]
USDJPY May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap Consolidation actions between Y-0 and Y+1. Ledge breakout upside gave us 100% of tight range. Closed the week above Y+1 and midpoint. Outlook Rising wedge with support at B-0. Breaking below will give us a pullback to Y-0 and below.
EURUSD May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap Breaking below Y-1 without tagging Y-0 first as explained last week gave us a drop until 100% absolute range expansion. Closed the week below Y-1 and near week low. Outlook More downside likely with Brexit being the focus in June. B-0 / Y-1 strong resistance until proven otherwise.
AUDUSD May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap Bounced back up to Y-0 and found resistance. Sold off down to Y-2 as expected. Closed the week below Y-1 and midpoint. Outlook Strong support / downside target Y-3 in play. Bottom setup develops there will point to short term low in place.
S&P 500 May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap News shock at the beginning of the week sent ES above Y-0. FBO against Y-0 turned Y-0 into resisstance and a drop back down to Y-1. Test of Y-0 from below and failed to clear that gave us more selling until 100% absolute range expansion was reached. Closed the week below Y-0 […]
Dow 30 May 23 to May 27 Outlook
By News Robot
Lawrence’s Comment Recap Bearish down trend in force all week. 100% absolute range expansion led to a strong bounce. Closed the week near Y-1 and below midpoint. Outlook Breaking above down trend line resistance points to a rush back up to B+1 and above. Failing to clear B-0 on daily closing basis will give us […]
USDCAD May 23 to May 27 Outlook
Lawrence’s Comment Recap Attempt to form higher timeframe bull flag failed. Daily bull flag upside breakout gave us Y+1 and then Y+2. Closed the week above Y+1 and midpoint. Outlook Strong uptrend established. B-0 support until proven otherwise.