Recap Intervention by the governments over the weekend disrupted the down trend and induced a short term short covering rally. Rally stalled at Y+1 and closed the week around Y-0 and midpoint of the week.
Outlook Whatever the governments chose to do they better have a long term plan of more market shocking announcements pre-scheduled in the coming weeks. Otherwise, a retest of Y-1 and continuation of the downtrend is more likely.
Lawrence's Comment
Recap
FBO Monday against Y+1 set the stage for a drop back down to Y-0. The rest of the week just played out the script. Y-0 tagged eventually and ES ...
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
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
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 Dec 05 to Dec 09 Outlook
Lawrence’s Comment
Intervention by the governments over the weekend disrupted the down trend and induced a short term short covering rally. Rally stalled at Y+1 and closed the week around Y-0 and midpoint of the week.
Outlook
Whatever the governments chose to do they better have a long term plan of more market shocking announcements pre-scheduled in the coming weeks. Otherwise, a retest of Y-1 and continuation of the downtrend is more likely.
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