Test of yellow zone leaded to further downside movement, but did not make it to the target area. Effective stuck in the range established in Monday and when breakout upside worked out, tagged 2x weekly open range area.
Next week outlook
Current quarter open range low (October low) failed to act as resistance, so open range midpoint is the first target area to tag (yellow zone). Sell from there target red zone which is effectively October low. If yellow zone does not act as resistance at all, next target is quarterly open range high (October high, green zone).
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
The expectation Euro would be a difficult play was correct. Due to ECB and Greece fighting, Euro spiked up and down depending on the news fed out at the ...
Lawrence's Comment
Recap
The other easy play for the week. Failed to push above Y-0 and dropped straight down to Y-2 target mentioned last week. Consolidated around Y-2 and gave us a ...
Lawrence's Comment
Recap
Y-0 resistance sent Euro lower. Y-1 not strong support as explained last time. Euro found support after 100% absolute range expansion to the down side. Strong bounce back up ...
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 Week of Dec 6th to Dec 10th Outlook
Recap of last week
Test of yellow zone leaded to further downside movement, but did not make it to the target area. Effective stuck in the range established in Monday and when breakout upside worked out, tagged 2x weekly open range area.
Next week outlook
Current quarter open range low (October low) failed to act as resistance, so open range midpoint is the first target area to tag (yellow zone). Sell from there target red zone which is effectively October low. If yellow zone does not act as resistance at all, next target is quarterly open range high (October high, green zone).
Share