Recap Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
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
Bear flag on daily successfully sent Dow up to year high and tagged the channel top. Since then Dow collapsed quickly with no pullback at all. Closed the week ...
Lawrence's Comment
Recap
Congestion between B-1 to B+1 most of the week. Then total collapse once the week low is taken out the last moment of the week. Obvious stop ...
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
Dow moved back to 18000 before its wild swings lower. All week gaps not filled and price actions going wild. Closed the week above Y-2 and below midpoint.
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GBPUSD Nov 07 to Nov 11 Outlook
Lawrence’s Comment
Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in one go. Stayed sideway the rest of the week between Y-0 and Y-1. Closed the week near Y-0.
Outlook
No clear direction at this point.
Consolidation usually leads to continuation of original trend thus it is more likely to retest B+1 at least one more time.
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