Trading Edges That Last
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Lawrence's Comment Recap Retest of Y-1 and support below as expected. Struggled a bit down there but managed to print week high later in the week. Closed the week near Y-0 and ...READ MORELawrence's Comment Recap ES pushed into Y+1 and Y+2 zone as expected. So far no sign of reversal though. Closed the week near Y+2 and above midpoint. Outlook Test of B+1 will ...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 MORELawrence's Comment Recap As expected Y-1 failed to hold as support and another new low was made last week. Closed the week below Y-1 and midpoint. Outlook Weaknesses persisted but range has ...READ MOREPrecog Vision – Forex 2015-2-43DP Odds Table (GBPUSD) 2019-04-16Precog Vision – Forex 2016-9-12AUDUSD Jul 21 to Jul 25 OutlookS&P 500 Jul 25 to Jul 29 Outlook3DP Odds Table (GBPUSD) 2019-10-07USDCAD Nov 09 to Nov 13 Outlook3DP Odds Table (GBPUSD) 2020-12-11Precog Vision – Forex 2017-8-30USDCAD Aug 20 to Aug 24 Outlook
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GBPUSD Feb 20 to Feb 24 Outlook
Lawrence’s Comment
More downside as expected. Intervention by ECB resulted in a squeeze that closed the week at midpoint.
Outlook
Money is leaving EU and no long term investors want to risk their money on government junk bonds that are created to loot their wealth. Cable is closely tied with euro thus it will be difficult for cable to rally off the current level.
Similar to last week, there is limited upside potential here for cable and significant downside risk. A clean break of B-1 will drop this pair down to B-3.
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