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
As explained last week, gold will play an important role. As gold rallied last week, this pair went thru wild take down until Y-2 was tagged. Closed the week ...
Lawrence's Comment
Recap
As expected drift up to B+2 and stalled from there. Closed the week below midpoint.
Outlook
Retest of Y+1 to B-1 should be the first move in the agenda. There ...
Lawrence's Comment
Recap
Y-1 breached at the start of the week and never get the chance to turn into resistance. Just like Dow, that provided enough fuel to boost ES ...
Lawrence's Comment
Recap
No consolidation whatsoever as Abe and BOJ worked together with one announcement after another to make sure ninja going higher. Break out play tagged normal Y+3 target. Closed the ...
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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