Trading Edges That Last
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Recap of last week As expected, rally in USDJPY continued last week. It failed to tag previous month high, however, making it difficult to tell if it is more ...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 MORELawrence's Comment Recap As projected last week, a test of resistance first and then a drop to target below. Very orderly. Closed the week above midpoint and Y-1. Outlook Support zone acted ...READ MOREUSDJPY Week of Nov 22nd to 26th OutlookHot n Cold (USDCAD) 2011-8-233DP Odds Table (USDCAD) 2013-11-29Precog Vision – Forex 2019-7-12Precog Vision – Forex 2019-6-10Weekly Cycle Projection (USDCAD) 2021-12-06GBPUSD Jan 09 to Jan 13 Outlook3DP Odds Table (USDCAD) 2021-11-12AUDUSD Jul 16 to Jul 20 OutlookAUDUSD Nov 28 to Dec 02 Outlook
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USDCAD Jan 28 to Feb 01 Outlook
Lawrence’s Comment
Consolidation above Y-0 not only gave us a rally to retest Y+1, it also gave us a clean breakout leading to a squeeze to Y+3. Closed the week near Y+1 and above midpoint.
Outlook
The upside breakout was strongly correlated to the selloff in gold.
The breakout has breached multiple weekly resistance hence the long term down trend is now broken. This does not translate into a strong rally automatically because it will take time to build a better base before it can go higher.
Next week as long as Y+5 is putting a cap on the up swing, consolidation around B+1 is expected.
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