Recap Sell setup from Y-0 to downside target at Y-2 in 1 go. Easiest play for the week. Y-2 did not hold up for long. Closed the week below Y-2 and midpoint.
Outlook A longer term sell formation in place. More weaknesses expected as long as Y-1 / B-0 is acting as resistance.
Euro can drop quite a bit lower from here as there is no real support until 1.30.
Lawrence's Comment
Recap
Beautiful whiplash play from resistance mentioned last week. Breaking support without putting up a fight at all. 200% range expansion. Closed the week below Y-2 and near week low.
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ContentReviewEuro Breakdown Mode BeginsS&P Done with the UpsideGold Consolidation ContinuesBig Picture SummaryReviewEuro pullback to retest the breakout down channel top turned into all out selloff for a new low, filling ...
EURUSD Sep 02 to Sep 06 Outlook
Lawrence’s Comment
Sell setup from Y-0 to downside target at Y-2 in 1 go. Easiest play for the week. Y-2 did not hold up for long. Closed the week below Y-2 and midpoint.
Outlook
A longer term sell formation in place. More weaknesses expected as long as Y-1 / B-0 is acting as resistance.
Euro can drop quite a bit lower from here as there is no real support until 1.30.
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