Trading Edges That Last
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Lawrence's Comment Recap The quiet pair of the majors last week. Consolidated around Y+1 / previous week close at 50% week range. Closed the week below Y+1 and midpoint. Outlook Y-0 retest likely. Tagging ...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 ES flushed down to the downside target area and bounced quickly back up to above Y-1. That staged the rally back up to challenge the open gap above. Closed ...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 Dow pushed higher as expected early in the week. Since then failed to clear the upside and breached Y-0. The break led to all out sell off since. Closed ...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 MOREPrecog Vision – Forex 2020-4-3GBPUSD Oct 28 to Nov 01 OutlookPrecog Vision – Forex 2012-4-233DP Odds Table (EURUSD) 2014-11-18S&P 500 Aug 26 to Aug 30 OutlookHot n Cold (EURUSD) 2019-3-29Precog Vision – Forex 2013-11-13DP Odds Table (EURUSD) 2014-12-26Dow 30 Aug 24 to Aug 28 OutlookPrecog Vision – Forex 2018-9-4
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EURUSD Jul 01 to Jul 05 Outlook
Lawrence’s Comment
Failed to trade above the resistance I mentioned last week. Messy price action around Y-1 since. Capped within 50% previous week range. Closed the week below midpoint and above Y-2.
Outlook
Consolidation week ended with a down side close confirm the weakness. Y-3 is now in play as long as Euro fails to close above Y-1 on daily close basis.
ECB meeting this week will definitely induce volatility to the pair. One interesting scenario is a spike top back up to B+1 and immediately dropped back down to below B-0. That will open the door to a quick flush down to Y-3 easily.
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