Trading Edges That Last
- You May Also Like
Lawrence's Comment Recap News from Europe created a new wave of sell pressure across European currencies against US dollar. Cable was forced to break Y-1 leading to a flush to ...READ MORELawrence's Comment Recap Less likely scenario occurred in beginning of the week. Downside target Y-2 tagged. Bounced right off target. Y-1 failed to hold it down. By end of the ...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 FBO scenario played out. Easy drop to target by the end of the week. Closed the week below Y-1 and near week low. Outlook Daily up trend ended with ...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 MOREIntraday Cycle Projection (EURUSD) 2012-11-233DP Odds Table (EURUSD) 2017-11-29GBPUSD May 14 to May 18 OutlookS&P 500 Mar 12 to Mar 16 OutlookS&P 500 Jul 26 to Jul 30 OutlookPrecog Vision – Forex 2022-4-22Weekly Cycle Projection (EURUSD) 2012-05-14Precog Vision – Forex 2013-5-1AUDUSD May 25 to May 29 OutlookPrecog Vision – Forex 2023-5-2
As Featured In
EURUSD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
Expected more downside last week and it looked like it was about to happen with the bear flag setup into Wednesday. Then everything changed by the eco report. Euro zoomed back up from a dirty bottom giving us the Y+1 target. Y+1 tagged and tried to breakout. It failed. Closed the week below Y+1 and above midpoint.
Outlook
Just like Cable moved by a statement, euro moved by a report that cannot be trusted at all. It tells us the environment is not stable. It happens when longer term players have very different outlook for the market creating huge consolidation zone that drives the shorter term traders insane.
In the case of euro, 1.35 is the official preferred rate as they stated last year while 1.38 is not “too desirable”. Work within the rules set by the officials for now should be a safe play.
Share