Trading Edges That Last
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Lawrence's Comment Recap Breakout above Y+1 and that turned into support, giving us the classic STOPD run to Y+3. Isn't that simple enough? Outlook As long as B-0 acts as support, uptrend intact ...READ MORELawrence's Comment Recap Blow-off action on Monday led to the expected pullback of 30 points. Closed the week below Y-0 and midpoint. Outlook Potential blow-off top on weekly. Y-0 / B-0 strong resistance. A ...READ MORELawrence's Comment Recap Consolidation above Y+1 for several days opened the door to Y+2. Then Dow found an excuse and zoomed up there in 1 go. Tagging Y+2 led to a strong ...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 MOREAUDUSD Oct 17 to Oct 21 OutlookS&P 500 Jan 08 to Jan 12 OutlookS&P 500 Jun 16 to Jun 20 Outlook3DP Odds Table (EURUSD) 2015-01-19Dow 30 Dec 02 to Dec 06 OutlookAUDUSD May 18 to May 22 Outlook3DP Odds Table (EURUSD) 2022-12-01Intraday Cycle Projection (EURUSD) 2020-05-183DP Odds Table (EURUSD) 2014-04-02Precog Vision – Forex 2018-2-14
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EURUSD Oct 17 to Oct 21 Outlook
Lawrence’s Comment
Multiple news shock since the beginning of the week has sent euro higher all week. The normal range expansion target of Y+3 was tagged by the close of the week.
Outlook
Pullback or consolidation is expected. News shock from last week are totally rumors in nature and nothing of any substance. Thus once any one of the persisting problems in euro zone resurface, this rally will be over.
Euro has returned to where the break down started (1.385 to 1.40 area) and if size players determine to stay away from euro in exchange for other currencies, a longer term lower high will be formed from here and much lower price level in euro is expected.
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