Trading Edges That Last
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Lawrence's Comment Recap First half of the week playing out perfectly like a normal 50% range consolidation around Y-1. Then FOMC announcement changed everything. The upside breakout of the tight range gave ...READ MOREFor 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 scheduleREAD MOREEURUSD Jan 17 to Jan 21 OutlookPrecog Vision – Forex 2017-8-25Dow 30 Mar 06 to Mar 10 OutlookPrecog Vision – Forex 2011-3-27Precog Vision – Forex 2013-3-29Precog Vision – Forex 2018-3-273DP Odds Table (EURUSD) 2021-09-23Dow 30 Jun 23 to Jun 27 OutlookIntraday Cycle Projection (EURUSD) 2018-03-22Precog Vision – Forex 2022-5-2
As Featured In
EURUSD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
Expected more downside last week and it looked like it was about to happen with the bear flag setup into Wednesday. Then everything changed by the eco report. Euro zoomed back up from a dirty bottom giving us the Y+1 target. Y+1 tagged and tried to breakout. It failed. Closed the week below Y+1 and above midpoint.
Outlook
Just like Cable moved by a statement, euro moved by a report that cannot be trusted at all. It tells us the environment is not stable. It happens when longer term players have very different outlook for the market creating huge consolidation zone that drives the shorter term traders insane.
In the case of euro, 1.35 is the official preferred rate as they stated last year while 1.38 is not “too desirable”. Work within the rules set by the officials for now should be a safe play.
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