Recap Breached Y-1 in the beginning of the week but did not stay below. Bounced to Y-0 and stopped there as usual. Sold back down to Y-1. Closed the week below Y-0 and midpoint.
Outlook Confirmed weaknesses in place but no confirmation of down trend on daily. Frustrating? Yes. But one has to understand that it is normal for summer with market movement like this.
More downside is expected. Breaking of B-1 forcefully will give us B-2 and B-3 eventually.
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
Bearish down trend in force all week. 100% absolute range expansion led to a strong bounce. Closed the week near Y-1 and below midpoint.
Outlook
Breaking above down ...
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EURUSD Jul 14 to Jul 18 Outlook
Lawrence’s Comment
Breached Y-1 in the beginning of the week but did not stay below. Bounced to Y-0 and stopped there as usual. Sold back down to Y-1. Closed the week below Y-0 and midpoint.
Outlook
Confirmed weaknesses in place but no confirmation of down trend on daily. Frustrating? Yes. But one has to understand that it is normal for summer with market movement like this.
More downside is expected. Breaking of B-1 forcefully will give us B-2 and B-3 eventually.
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