Trading Edges That Last
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Lawrence's Comment Recap Just like Dow, consolidation within the top half of the expected range. End of week pullback completed the gap fill below and bounced from there. Closed the week ...READ MORELawrence's Comment Recap Held upside breakout crime scene and took off from there. 100% absolute range expansion capped the move. Pullback to midpoint since. Closed the week above Y-0 and near midpoint. ...READ MORELawrence's Comment Recap The FBO short play worked out perfectly with Y-1 tagged by the end of the week. Y-0 acted as resistance all week. Closed the week near Y-1 and week ...READ MORELawrence's Comment Recap Rally continued until Y+2 is tagged. News shock from Euro zone induced a sharp selloff back down to above 1.00, slightly higher than Y-0. Closed the week ...READ MORELawrence's Comment Recap Y-1 support sent cable back up to Y-0. Y-0 resistance dropped cable down to 1.49 round number. 1-2-3 buy on 4 hour sent it back up to Y-1 and ...READ MOREIntraday Cycle Projection (EURUSD) 2022-07-14Nasdaq 100 Jul 11 to Jul 15 OutlookGBPUSD May 30 to Jun 03 OutlookAUDUSD Jun 29 to Jul 03 OutlookAUDUSD Jun 25 to Jun 29 OutlookGBPUSD May 23 to May 27 OutlookIntraday Cycle Projection (EURUSD) 2012-07-133DP Odds Table (EURUSD) 2019-10-07GBPUSD Dec 07 to Dec 11 OutlookEURUSD Sep 04 to Sep 08 Outlook
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EURUSD Feb 27 to Mar 02 Outlook
Lawrence’s Comment
More intervention from ECB and gang in the beginning of the week forced euro to go higher as shorts are squeezed hard. Closed the week at Y+2.
Outlook
As mentioned in STOPD, whenever shock happens, the immediate target in the breakout direction will be reached. In this case it is Y+2 and 100% absolute range expansion.
That happened last week and this area is a wait and see area.
A top forming here will send euro back down to B-0 / Y+1 quickly. How euro reacts at that zone will determine if euro has broken out of the downtrend for real or it is just another false breakout on weekly.
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