Recap Started the week rejecting Y+1 and dropped quickly. Y-0 then acted as resistance giving us a drop to below Y-1. Yet originaly down side target still not reached and ended with a late week bounce. Closed the week below Y-0 and near midpoint.
Outlook Rejected Y-1 decisively. Down trend invalidated. Another pair with potential wide range consolidation in play. Not bullish until B+1 / Y+1 is cleared.
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
Consolidation week with very thin volume. 50% previous week range bounded the activities. Closed the week above Y+1 and midpoint.
Outlook
Tight range week points to breakout mode in ...
Lawrence's Comment
Recap
The rising wedge broke out to the upside and turned into an up channel. The upside breakout gave us Y+2 quickly. After fed announcement, Dow made a ...
Lawrence's Comment
Recap
Break below Y-1 and that Y-1 turned into resistance, the bearish case unfolded. We got our target of Y-2 by mid week. The tricky part is that 1280 ...
GBPUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Started the week rejecting Y+1 and dropped quickly. Y-0 then acted as resistance giving us a drop to below Y-1. Yet originaly down side target still not reached and ended with a late week bounce. Closed the week below Y-0 and near midpoint.
Outlook
Rejected Y-1 decisively. Down trend invalidated. Another pair with potential wide range consolidation in play. Not bullish until B+1 / Y+1 is cleared.
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