As expected, range contracted significantly to just 50% of the prior week. A new low is printed without expansion into 50% downside expansion target zone (red zone). A bounce to yellow zone had failed to take out the resistance and closed the week below midpoint.
Next Week Outlook
As last week failed to close above the yellow zone, it is more likely for the pair to stay within a tight range below the yellow zone from last week. Once 2010 is over, the red zone below should be breached quickly.
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
With the backdrop of government intervention, dollar yen is showing the strongest persistencies in its uptrend. After the shock sending the pair down to Y-0, it bounced off ...
Lawrence's Comment
Recap
One of the most tricky weeks in these few years. First, in beginning of the week swinging around Y-0. Gapped to Y+1 and traded above. The gapped back down ...
GBPUSD Dec 27th to Dec 31st Outlook
Recap of Last Week
As expected, range contracted significantly to just 50% of the prior week. A new low is printed without expansion into 50% downside expansion target zone (red zone). A bounce to yellow zone had failed to take out the resistance and closed the week below midpoint.
Next Week Outlook
As last week failed to close above the yellow zone, it is more likely for the pair to stay within a tight range below the yellow zone from last week. Once 2010 is over, the red zone below should be breached quickly.
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