Trading Edges That Last
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Lawrence's Comment Recap Euro support at Y-0 and test of upside resistance as expected. Failed to clear the zone and stalled since. Closed the week above Y+0 and near midpoint. Outlook Support ...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 Tried very hard to form a low above the support zone mentioned last week yet failed to do so. Landing at the target zone finally resulted in extreme ...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 explained last week, do not confuse volatility as strength. Y-0 breached quickly led to Y-1 test in play. Y-0 turned into resistance since. Y-1 could not even stop ...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 MOREPrecog Vision – Forex 2012-12-20Precog Vision – Forex 2017-9-28Precog Vision – Forex 2011-4-25EURUSD Jan 18 to Jan 22 OutlookPrecog Vision – Forex 2013-8-1USDJPY Jul 16 to Jul 20 OutlookPrecog Vision – Forex 2020-6-3EURUSD Jul 20 to Jul 24 OutlookPrecog Vision – Forex 2016-2-17Intraday Cycle Projection (USDJPY) 2023-01-23
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USDJPY Mar 17 to Mar 21 Outlook
Lawrence’s Comment
As expected, the range is now bounded by the outside week range. Rejected previous week close, ninja simply falling back down to Y-1. Closed the week near Y-1 and week low.
Outlook
Nikkei weaknesses is one of the driving factor but situation in Ukraine is likely the most important contributing factor. Contrary to what you read in the Western news outlets. Russia this time is the one that followed international law while US violated every UN rules on the book in dealing with the situation.
Inside week. B-0 / Y-0 now strong resistance. Chart patterns suggest more downside likely.
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