Trading Edges That Last
- You May Also LikeFor 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 MORE
Lawrence's Comment Recap First part of the week the pair took off from our support zone and reached Y+3, clearing our upside targets. Tagging Y+3 too fast usually results in ...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 MORELawrence's Comment Recap As expected, consolidation price actions all week. Closed the week near midpoint and Y-0. Outlook Summer Games is not over yet. Inside week points to breakout in play. No point ...READ MOREPrecog Vision – Forex 2021-2-12USDJPY Jan 30 to Feb 03 OutlookPrecog Vision – Forex 2014-6-27Intraday Cycle Projection (GBPUSD) 2013-06-263DP Odds Table (GBPUSD) 2014-08-293DP Odds Table (GBPUSD) 2021-11-26GBPUSD Aug 06 to Aug 10 OutlookDow 30 Jul 02 to Jul 06 OutlookDow 30 Nov 08 to Nov 12 OutlookIntraday Cycle Projection (GBPUSD) 2011-10-27
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Lawrence’s Comment
Cable pressed at Y-1 in the beginning of the week and then collapsed on news. This staged a 100% expansion move to the downside. Cable tagged 100% absolute range expansion and bounced since. However it failed to move pass the week midpoint. Closed the week below Y-2 and midpoint.
Outlook
Cable tagged an important monthly price level at B-1. As long as B-1 is not breached for long and holding on daily close basis, there is a good chance of cable testing Y-1 again soon.
The drop at the end of last week was the result of Moody downgrading UK after US stock market close. As we have learned before, these rating firms do not play random. So it is a calculated move to press cable down by end of the week. Was it done to help some friends to cover their shorts near the low? Or, someone like cable at this level so much that they need some liquidity to go long before the weekend?
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