Recap As expected sold off from our resistance area. Better yet it dropped more than the minimal target to below Y-2 clearing the way to tag Y-3. Closed the week near Y-3.
Outlook Controlled channel drop with no surprises nor breakout upside or downside at all. That is very unusual because Euro was toasted big time yet cable is not following closely. That tell us that cable has hidden strength building up and possibly a bottom in the making.
Will avoid this pair next week as it will be difficult to predict which way the channel will snap out of first.
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
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
No further selloff. Rallied straight up from the bottom of the established range to the top of the range in a week. Closed the week above Y+1.
Outlook
Outside ...
Lawrence's Comment
Recap
Gapped way higher right at the start of the week. Then collapsed back down to fill the gap. NQ found support there and started a short squeeze filling the ...
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
GBPUSD Sep 12 to Sep 16 Outlook
Lawrence’s Comment
As expected sold off from our resistance area. Better yet it dropped more than the minimal target to below Y-2 clearing the way to tag Y-3. Closed the week near Y-3.
Outlook
Controlled channel drop with no surprises nor breakout upside or downside at all. That is very unusual because Euro was toasted big time yet cable is not following closely. That tell us that cable has hidden strength building up and possibly a bottom in the making.
Will avoid this pair next week as it will be difficult to predict which way the channel will snap out of first.
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