Recap Cable simply flushed from the start of the week and breached Y-1 in 1 go. That set up the pair to drop down to Y-2 and below. Cable resumed its selloff right after a shallow pullback. Closed the week near week low and below Y-2.
Outlook The last part of the sell off in last week has been grinding lower with difficulties. Hence we are looking at a short term oversold condition where not too many size players are looking for more downside. This stages a strong rally once we get a long setup off B-1.
Lawrence's Comment
Recap
Y-0 support sent ES up to Y+1 and cleared it easily. This opened the door to Y+2. Y+2 tagged and pullback started. 3 pushes down into Friday and held ...
Recap of last week Flushed down as expected, tagged the previous month 2x downside target (good!) but not tagging the 50% weekly expansion target to the downside and reversed ...
Lawrence's Comment
Recap
As expected, Loonie consolidated within the tight range mentioned last week. By end of week, after support was found, this pair drifted back up to near Y+1 before stalling. ...
GBPUSD Feb 18 to Feb 22 Outlook
Lawrence’s Comment
Cable simply flushed from the start of the week and breached Y-1 in 1 go. That set up the pair to drop down to Y-2 and below. Cable resumed its selloff right after a shallow pullback. Closed the week near week low and below Y-2.
Outlook
The last part of the sell off in last week has been grinding lower with difficulties. Hence we are looking at a short term oversold condition where not too many size players are looking for more downside. This stages a strong rally once we get a long setup off B-1.
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