Recap Weak pullback not even touching Y-0 ended with another drop to Y-1. Eventually Y-1 was cleared giving us equal distance from previous week close. Closed the week below Y-1 and at week low.
Outlook Consolidation action with weak close is bearish. More down side is expected. A quick flush to B-2 early next week can produce a temporary support for a bounce back up to B+1 / Y-0.
Lawrence's Comment
Recap
Break out above Y+1 from Y-0 gave us Y+2 target. Tagged Y+2 and filled 2 gaps above in 1 go. Then Dow just fall and failed to hold ...
Lawrence's Comment
Recap
As expected, not much movement for this pair due the rally made the week before this past week takes some time for the players to digest. The ...
Lawrence's Comment
Recap
Tight range consolidation near Y-0 first half of the week. Then the whiplash mentioned last week came. First a push towards Y+1 and failed. Then collapsed at the end ...
Auto chart generator encountered some problem and failed to produce the ES chart for this week. Refer to the Dow chart as they look very similar for the past week.
Lawrence's ...
GBPUSD Aug 11 to Aug 15 Outlook
Lawrence’s Comment
Weak pullback not even touching Y-0 ended with another drop to Y-1. Eventually Y-1 was cleared giving us equal distance from previous week close. Closed the week below Y-1 and at week low.
Outlook
Consolidation action with weak close is bearish. More down side is expected. A quick flush to B-2 early next week can produce a temporary support for a bounce back up to B+1 / Y-0.
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