Trading Edges That Last
- You May Also LikeFor 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 MORE
ContentReviewEuro Moves Back Into the ChannelS&P Support Defended, Now WhatGold Needs to Prove ItselfBig Picture SummaryReviewEuro collapsed back down like clockwork as expected.The sudden steep pullback happened in S&P as ...READ MORELawrence's Comment Recap Bearish down trend in force all week. 100% absolute range expansion led to a strong bounce. Closed the week near Y-1 and below midpoint. Outlook Breaking above down ...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 MORE3DP Odds Table (EURUSD) 2016-06-14Precog Vision – Forex 2015-2-4Weekly Cycle Projection (EURUSD) 2013-04-15Dow 30 Feb 08 to Feb 12 OutlookMBO Issue 98 (Feb 2020) The Unintended ConsequenceHot n Cold (EURUSD) 2012-8-243DP Odds Table (EURUSD) 2017-12-18Intraday Cycle Projection (EURUSD) 2015-10-23Dow 30 May 23 to May 27 OutlookPrecog Vision – Forex 2015-2-2
As Featured In
EURUSD Aug 19 to Aug 23 Outlook
Lawrence’s Comment
As expected the rising wedge did not last. It was broken to the down side and the selloff almost tagged my downside target. Euro bounced before the target was reached. A steep rally from the low took euro back up to 100% absolute range expansion. Closed the week at Y-0 and above midpoint.
Outlook
Below Y-1 was rejected decisively. Yet rally higher has no strength. The pop up to B+1 is a retest of the rising wedge support line from below. So far the support line holds thus we are looking at a potential longer term top in the making. As long as Y+1 is not breached on weekly close basis euro should go much lower.
Share