Trading Edges That Last
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Lawrence's Comment Recap NQ did a whiplash play. First NQ held Y-0 support and pushed higher above Y+1. That is pretty much the expected move. Then NQ failed to hold above Y+1 ...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 the flush from the week prior to last did not produce more down side extension. Consolidated around Y-1 and Y-0. Closed the week above midpoint ...READ MORELawrence's Comment Recap Previous week close acted as support all week making the consolidation higher than usual. Closed the week above Y+1 and midpoint. Outlook An up channel has developed. A break above B+1 ...READ MORENasdaq 100 Aug 19 to Aug 23 OutlookS&P 500 Oct 23 to Oct 27 Outlook3DP Odds Table (EURUSD) 2017-11-23Intraday Cycle Projection (EURUSD) 2019-01-18Intraday Cycle Projection (EURUSD) 2021-03-19Precog Vision – Forex 2012-7-23USDCAD Dec 03 to Dec 07 OutlookNasdaq 100 May 08 to May 12 OutlookGBPUSD Aug 26 to Aug 30 OutlookEURUSD Feb 24 to Feb 28 Outlook
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EURUSD Aug 05 to Aug 09 Outlook
Lawrence’s Comment
Instead of a reversal euro managed to break out of its up channel without dropping back down below the support zone. Wild swings at the 2nd half of the week yet the range has not expanded. Closed the week near midpoint and Y+1.
Outlook
Neutral closing setup means no strong bias to lean on. Given the fact that euro entered this consolidation from an uptrend, a retest of Y+1 and even B+1 is likely.
The better risk reward play is a break of Y-1 / B-2 which points to significant longer term reversal in place.
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