Recap The breakdown play worked out. Cable cleared 1.53 quickly and dropped down to Y-2 for a pause. That did not last long and cable just break down at the end. Closed the week below Y-3 and at week low.
Outlook Momentum so strong rarely just stop there so more downside is expected. Very difficult to tell if 1.50 will unlock more stops or not. If cable manages to spike low below Y-4 and snap back above B-1, cable will likely consolidate in tight range for the rest of the week.
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
NQ held previous week close and rallied off there right from the start of the week. As the strongest of the 3 indices, it tagged Y+2 by ...
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 Mar 09 to Mar 13 Outlook
Lawrence’s Comment
The breakdown play worked out. Cable cleared 1.53 quickly and dropped down to Y-2 for a pause. That did not last long and cable just break down at the end. Closed the week below Y-3 and at week low.
Outlook
Momentum so strong rarely just stop there so more downside is expected. Very difficult to tell if 1.50 will unlock more stops or not. If cable manages to spike low below Y-4 and snap back above B-1, cable will likely consolidate in tight range for the rest of the week.
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