Trading Edges That Last
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Lawrence's Comment Recap NQ gap and go right from the start of the week to clear the strong resistance of Y-0 and filled the open gap above. This led to retest of ...READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREIntraday Cycle Projection (EURUSD) 2015-07-08S&P 500 Jan 02 to Jan 06 OutlookHot n Cold (EURUSD) 2011-9-2Nasdaq 100 Apr 27 to May 01 OutlookPrecog Vision – Forex 2018-4-11Intraday Cycle Projection (EURUSD) 2014-07-08Intraday Cycle Projection (EURUSD) 2022-08-19Intraday Cycle Projection (EURUSD) 2016-08-26Precog Vision – Forex 2017-5-10Precog Vision – Forex 2013-3-14
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EURUSD Aug 19 to Aug 23 Outlook
Lawrence’s Comment
As expected the rising wedge did not last. It was broken to the down side and the selloff almost tagged my downside target. Euro bounced before the target was reached. A steep rally from the low took euro back up to 100% absolute range expansion. Closed the week at Y-0 and above midpoint.
Outlook
Below Y-1 was rejected decisively. Yet rally higher has no strength. The pop up to B+1 is a retest of the rising wedge support line from below. So far the support line holds thus we are looking at a potential longer term top in the making. As long as Y+1 is not breached on weekly close basis euro should go much lower.
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