Trading Edges That Last
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Lawrence's Comment Recap As expected, Canadian dollar consolidated around Y-1 with downside bias. Closed the week around Y-1 and below midpoint. Outlook No strong directional bias because loonie is so close to par level ...READ MORELawrence's Comment Recap As expected cable dropped to Y-2. It bounced back above Y-1 right after forcing a push back to above Y-0. Closed the week near Y-0. Outlook Below 1.6 is rejected. ...READ MORE3DP Odds Table (EURUSD) 2014-08-053DP Odds Table (EURUSD) 2017-08-24GBPUSD Nov 14 to Nov 18 Outlook3DP Odds Table (EURUSD) 2019-10-073DP Odds Table (EURUSD) 2019-06-12Precog Vision – Forex 2017-8-3USDCAD Jun 17 to Jun 21 Outlook3DP Odds Table (EURUSD) 2014-06-20USDJPY May 07 to May 11 OutlookGBPUSD Oct 29 to Nov 02 Outlook
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EURUSD Jun 24 to Jun 28 Outlook
Lawrence’s Comment
The thin up channel broken to the downside from a FBO against Y+1. Almost tagged Y-2 target mentioned last week. Easiest play of the week. Closed the week near week low and below Y-1.
Outlook
The excessive push to the up side is now corrected. There is not much reason to go much lower even though more down side is likely this week.
Expect messy price action where Y-1 is solid resistance with Y-3 / B-2 acting as strong support.
Directionless until the politicians speak again. I don’t like that but it is part of the job hazard now.
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