Recap Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
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
As I pointed out last week, a healthy pullback takes more than a week. NQ gapped higher into the resistance zone and sold off down to Y-1 and completed ...
GBPUSD Jul 16 to Jul 20 Outlook
Lawrence’s Comment
Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook
The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
Share