Recap Opened the week above Y+1 and staying above invalidated the potential for a drop back down to Y-0 and below. Fed announcement sent cable to Y+3 normal breakout target and stalled. Closed the week below midpoint and Y+2.
Outlook 2nd wide range week closing near midpoint likely gives us a consolidation week around B-0. Price should be trapped within B-1 and B+1.
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
Consolidation play all week around Y+1. Upside momentum carried Euro higher in an up channel. Closed the week near Y+1 and midpoint.
Outlook
B+1 / B+2 strong resistance zone ...
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
GBPUSD Sep 23 to Sep 27 Outlook
Lawrence’s Comment
Opened the week above Y+1 and staying above invalidated the potential for a drop back down to Y-0 and below. Fed announcement sent cable to Y+3 normal breakout target and stalled. Closed the week below midpoint and Y+2.
Outlook
2nd wide range week closing near midpoint likely gives us a consolidation week around B-0. Price should be trapped within B-1 and B+1.
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