Recap Pullback to Y-0 without a test of Y+1. Y-0 support sent cable straight back up to Y+1 and cleared it with ease. Y+1 support helped cable higher to tag Y+2. Closed the week above Y+1 and midpoint.
Outlook Measured move target Y+2 reached with strong reaction. Cable needs some time to absorb the move. Consolidation around B-0 likely.
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
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
Did not comment on this pair last week somehow. The spike low last week is a rejection so the normal expectation is to get Y+2 and higher. ...
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
Euro held its support and drifted higher since. Another tight range week. Closed the week above Y-0 and midpoint.
Outlook
2nd tight range week in a row gives us breakout mode. ...
GBPUSD Sep 21 to Sep 25 Outlook
Lawrence’s Comment
Pullback to Y-0 without a test of Y+1. Y-0 support sent cable straight back up to Y+1 and cleared it with ease. Y+1 support helped cable higher to tag Y+2. Closed the week above Y+1 and midpoint.
Outlook
Measured move target Y+2 reached with strong reaction. Cable needs some time to absorb the move. Consolidation around B-0 likely.
Share