Recap Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed the week above Y+1 and midpoint.
Outlook A ledge after strong selloff is bearish. A retest of B-1 and below is likely. Until B+1 is cleared we cannot be sure the daily down leg is over.
Lawrence's Comment
Recap
A wild turnaround Monday followed by total collapse Tuesday. Tagged Y-2 as expected. Then fighted to stay within 100% absolute range expansion and above 1400 multiple times. ...
Lawrence's Comment
Recap
ES acted as bullish as it can be as expected last week. But that strength disappeared when the fiscal cliff talks taking over the media. During Thursday ...
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
ES gapped higher and zoomed to Y+2 right from the start. This opened the door to gap and go week with Y+3 target. ES traded in tight range drifting ...
GBPUSD Sep 01 to Sep 05 Outlook
Lawrence’s Comment
Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed the week above Y+1 and midpoint.
Outlook
A ledge after strong selloff is bearish. A retest of B-1 and below is likely. Until B+1 is cleared we cannot be sure the daily down leg is over.
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