Recap Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
Lawrence's Comment
Recap
ES gapped up to the strong resistance zone as explained last week and could not push higher. A break down from there gave us Y-0 easily and collapsed down ...
Lawrence's Comment
Recap
Y+1 support sent this higher until 100% absolute range expansion is tagged. Consolidated since. Closed the week near Y+1 and below midpoint.
Outlook
Slow rip to higher level suggests ...
Lawrence's Comment
Recap
Further consolidation around Y-0 area. End of week weaknesses failed to break the Y-1 support. Closed the week near week low and below Y-0.
Outlook
Inside week from daily up trend ...
GBPUSD Apr 15 to Apr 19 Outlook
Lawrence’s Comment
Consolidated around previous week close. 50% of previous week range. Closed the week near previous week close, Y+1 and midpoint.
Outlook
Due to the fact that cable failed to close above Y+1, the consolidation is weaker than usual for a run to new high. Hence cannot rule out the possibility to pullback down to B-1 once more.
Only when B-0 can act as support that we have a better chance for a move to B+2.
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