Trading Edges That Last
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Lawrence's Comment Recap As expected Aussie cannot even tag Y-0 and sold off back down to Y-1. Struggled around Y-1 in 2nd half of the week. Closed the week below Y-1 and ...READ MORELawrence's Comment Recap Down channel resistance breached right from the beginning of the week. Gave us an up drift consolidation week. 50% range capped the upside. Closed the week above Y-0 and ...READ MOREPrecog Vision – Forex 2016-6-283DP Odds Table (GBPUSD) 2019-07-08Hot n Cold (GBPUSD) 2018-8-17Intraday Cycle Projection (GBPUSD) 2017-01-04Precog Vision – Forex 2019-7-2Intraday Cycle Projection (GBPUSD) 2011-09-22AUDUSD Sep 02 to Sep 06 OutlookIntraday Cycle Projection (GBPUSD) 2023-02-28AUDUSD Apr 03 to Apr 07 OutlookUSDJPY Aug 18 to Aug 22 Outlook
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Lawrence’s Comment
Y-0 acted as resistance, gave us a good run down to Y-2 target mentioned last week. Found support there and bounced back up. Closed the week below Y-1 and midpoint.
Outlook
The easy one from last week will turn into something more sticky here.
Mentioned many times here that for some reason 1.50 is a magic number that cable loves to tag but the reaction is not the same every time. It is difficult to predict how cable will react there as it is right below B-1 now. If you are uncomfortable with volatility, avoid cable this week.
Normal scenario is that a spike low against B-1 (and also 1.50) early in the week will give cable an excuse to jump back up to B+1.
Without that we usually get another leg down to B-2.
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