Trading Edges That Last
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Lawrence's Comment Recap Bear flag breakdown gave us Y-1 and below as expected. Y-2 tagged and consolidation between Y-1 and Y-2 since. Closed the week below Y-1 and midpoint. Outlook B-1 retest ...READ MORELawrence's Comment Recap Feb close did not even attempt to hold up at Y-1 and slided to 50% downside expansion target at Y-2. The bounce was stopped right at Y-1 ...READ MORELawrence's Comment Recap Early part of the week was a weak drift towards previous week close from below. As that failed to push higher, Y-2 was tagged. Then the multi-stage ...READ MORELawrence's Comment Recap Initially bounced off Y-1 but failed to go above Y-0. That caught a lot of people by surprise. Surprise breakout points to normal expansion target of Y-3 ...READ MORE3DP Odds Table (EURUSD) 2015-03-113DP Odds Table (EURUSD) 2021-10-13USDCAD Apr 25 to Apr 29 OutlookS&P 500 Jul 17 to Jul 21 OutlookIntraday Cycle Projection (EURUSD) 2017-08-21Intraday Cycle Projection (EURUSD) 2021-04-01USDCAD Mar 07 to Mar 11 OutlookNasdaq 100 Jul 02 to Jul 06 OutlookUSDJPY Oct 28 to Nov 01 OutlookAUDUSD Oct 08 to Oct 12 Outlook
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EURUSD Jan 10th to Jan 14th Outlook
Recap of Last Week
Previous year close acted as resistance and a temporary higher high was immediately rejected. As mentioned last time, the breaking of the red zone pointed to a test of 1.30 area and that happened with no pullback at all. The week close at its low.
Next Week Outlook
Based on the range of the first week of the year in this pair, it is projecting many swings of 500 pips or more in this year. That represents many opportunities (and risk) in the coming weeks.
If euro holds the previous week low (yellow zone), a bounce towards the previous week midpoint (green zone) is in the card. The more important level, however, is that should a breakdown happen, the target is 100% downside expansion at 1.24 or lower (red zone, not visible on the chart). This target zone is good for the whole first quarter of 2011.
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