Recap Cable continued matching upward and cleared Y+2. It did not stop until 1.63 was tagged. 1-2-3 sell pushed it back down to the low of the week. Closed the week near week low and below Y+1.
Outlook Cable failed to hold its 4 hour up trend line support. As long as Y-0 (1.61) area is acting as support, looking for retest at B-0.
If cable fails to clear B-0 from below, we have a short term top in place that can last a few weeks.
Lawrence's Comment
Recap
Rumors / news shocks flying high with inverse head and shoulder formed against Y-1. Upside breakout immediately get us Y+3 target. Closed the week above Y+2 and at weak ...
Lawrence's Comment
Recap
Unlike the other 2 indices, NQ has been the weakest all week. Closed the week at midpoint.
Outlook
As long as Y-0 holds, NQ can go higher.
If Y-0 ...
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
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
GBPUSD Dec 24 to Dec 28 Outlook
Lawrence’s Comment
Cable continued matching upward and cleared Y+2. It did not stop until 1.63 was tagged. 1-2-3 sell pushed it back down to the low of the week. Closed the week near week low and below Y+1.
Outlook
Cable failed to hold its 4 hour up trend line support. As long as Y-0 (1.61) area is acting as support, looking for retest at B-0.
If cable fails to clear B-0 from below, we have a short term top in place that can last a few weeks.
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