Trading Edges That Last
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Lawrence's Comment Recap ECB decision swinged euro both ways. Y-1 defended and immediately shot up to Y+2. Closed the week near Y+2 and above midpoint. Outlook Shorts are trapped which can in ...READ MORE3DP Odds Table (AUDUSD) 2023-04-04Intraday Cycle Projection (AUDUSD) 2016-05-03Precog Vision – Forex 2016-10-26USDCAD Nov 05 to Nov 09 OutlookPrecog Vision – Forex 2022-4-26EURUSD Mar 13 to Mar 17 Outlook3DP Odds Table (AUDUSD) 2021-12-02EURUSD Mar 14 to Mar 18 OutlookS&P 500 Nov 04 to Nov 08 OutlookAUDUSD Jun 10 to Jun 14 Outlook
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AUDUSD May 21 to May 25 Outlook
Lawrence’s Comment
No quick drop and bounce. Just slow motion selloff all the way. Paused at Y-2 but failed to bounce at all. Ended the week after tagging Y-3 and closed near week low.
Outlook
We are seeing a very rare type of breakdown selloff where longs do not give up at all at every lower support level. Everyone is trying to trade out of the drop (i.e. averaging down). This is not a good sign.
Long term basis I will not be comfortable going long until after Aussie can find support around 1.0 area.
For next week, a bounce points to a test of B-0 and failing to clear that points to B-2 in play.
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