Recap Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
Lawrence's Comment
Recap
Dow simply hopped thru the Y+1 resistance and never looked back. The bullish bias from last week worked out. YM has to complete 100% range expansion first before it ...
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Lawrence's Comment
Recap
Broken out to the downside. Tagged double top target and bounced back up to Y-1. Closed the around midpoint.
Outlook
As long as Y-1 acts as resistance, a retest ...
Lawrence's Comment
Recap
Cable took out Y+2 as expected and stalled at 100% absolute range expansion. 1-2-3 sell on 4 hour sent cable back to where it started. Closed the week below ...
GBPUSD Jul 16 to Jul 20 Outlook
Lawrence’s Comment
Y-0 capped the drift up attempt. The selloff, however, is not as strong as expected. That can be partially contributed to the news shock from Europe zone that reversed the course of many markets. The sudden reversal resulted in a push to new high for the week. Closed the week near week high.
Outlook
The end of week move is very suspicious and it may not last. We need B-0 or B+1 to act as support so that we can be sure the reversal is for real.
I need to see the first 2 swings next week to determine a push to B+2 is possible.
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