Trading Edges That Last
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Lawrence's Comment Recap The bad news for bulls materialized last week. Dow tried hard to hold every intraday support zone yet breached them all when the news of another bank trouble had ...READ MORELawrence's Comment Recap Dow zoomed up on no volume initially and exploded to Y+2 with a sharp reversal. Signature blowoff top in place pointing to a drop back down to Y-0. With ...READ MORELawrence's Comment Recap ES was capped in the beginning of the week for 3 days even when Euro zone b.s. its way out. But Fed announcement changed everything. A hard ...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 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 followed Dow to tag Y+2 before a more serious pullback materialized. Premium members were informed about the reversal well ahead of time. Closed the week near Y+1 and ...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 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 MOREUSDJPY May 04 to May 08 OutlookDow 30 Jul 14 to Jul 18 OutlookDow 30 May 27 to May 31 OutlookS&P 500 Sep 17 to Sep 21 Outlook3DP Odds Table (EURUSD) 2015-09-23Precog Vision – Forex 2014-5-15Precog Vision – Forex 2015-5-8S&P 500 Apr 25 to Apr 29 OutlookPrecog Vision – Forex 2014-10-16Precog Vision – Forex 2022-6-23
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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.
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