Recap The interesting scenario mentioned last week has played out nicely and tagged the 1st target of Y-3 and also the 2nd target of Y-4. Closed at the low of the week. Notice how the range of previous week acted as the yardstick on every move throughout the week according to the rules of STOPD.
Outlook Y-5 is likely to be tagged in the beginning of the week as that is also the monthly low zone. A close of the month above 82 implies a quick rally back up to B-0. Closing below that, will point to congestion for some time and downside bias until B-1 acts as support.
Lawrence's Comment
Recap
Consolidation with pullback to target mentioned last week. No real action until end of week tension increased between US and Russia. Closed the week near Y+1 and B+1.
Outlook
Above B+1 ...
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Lawrence's Comment
Recap
First significant pullback after the 400+ pips rally. Closed the week below Y-0 and midpoint. Inside week.
Outlook
I am still looking for long only. As long as B-1 ...
Lawrence's Comment
Recap
Dow consolidated around Y-0 until FOMC announcement. After announcement Dow rushed to 100% absolute range expansion target and stalled from there. Closed the week above Y-0 and near midpoint.
...
Lawrence's Comment
Recap
Just like Dow, everything was pointing to lower prices, yet Y-1 was rejected forcefully in the beginning of the week. That gave us a clue that there ...
USDJPY Feb 28 to Mar 04 Outlook
Lawrence’s Comment
The interesting scenario mentioned last week has played out nicely and tagged the 1st target of Y-3 and also the 2nd target of Y-4. Closed at the low of the week. Notice how the range of previous week acted as the yardstick on every move throughout the week according to the rules of STOPD.
Outlook
Y-5 is likely to be tagged in the beginning of the week as that is also the monthly low zone.
A close of the month above 82 implies a quick rally back up to B-0.
Closing below that, will point to congestion for some time and downside bias until B-1 acts as support.
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