Recap Y-1 breached early in the week as expected. But it turns into a w. spring against Y-1 and rally to the natural target Y+1. Broke above Y+1, the pair finally stopped at 200% absolute expansion and closed the week at Y+2.
Lawrence's Comment
Recap
Breakout play netted 200 pips instead of just 100. The best surprise of the week. The pair did not stop until Y+5 was tagged. A lot of trapped shorts ...
For 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 schedule
Lawrence's Comment
Recap
Loonie reacted the same way like the other majors to the FOMC announcement last week. Break down from the daily up trend tagged normal sell off target of Y-2. ...
For 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 schedule
GBPUSD Apr 25 to Apr 29 Outlook
Lawrence’s Comment
Y-1 breached early in the week as expected. But it turns into a w. spring against Y-1 and rally to the natural target Y+1. Broke above Y+1, the pair finally stopped at 200% absolute expansion and closed the week at Y+2.
Outlook
Consolidation within Y+1 and B+1.
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