Recap Clean break of Y-1 instead of FBO. That set the stage to a run down to Y-3. Y-3 tagged and gave us a bounce. Y-2 acted as resistance and sent euro down to almost Y-4. Closed the week below Y-3 and near week low.
Outlook Warned for weeks that euro wants 1.32 and it is finally there. 1.32 is important in multiple higher timeframes. A definitive bottom on daily at this level will send euro back up to 1.35 or higher.
As long as that has not happened yet, all bounces are just pullbacks will the potential of euro breaking down to 1.30 and below.
Recap
Made a deep pullback but finally reacted similarly like Aussie. Completed the week by tagging the target Y+1.
Outlook
As long as B-0 acts as support, B+2 is next target.
A ...
Lawrence's Comment
Recap
Sold back down to Y-0 first as expected. Further weaknesses took it down to Y-1. But gap was not filled and a bounce from the gap top killed ...
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
Weekly yellow zone acted as resistance. A confirmed break on hourly, however, does not offer much profit potential on its first target area (red zone) right above 1.31. It ...
EURUSD Aug 25 to Aug 29 Outlook
Lawrence’s Comment
Clean break of Y-1 instead of FBO. That set the stage to a run down to Y-3. Y-3 tagged and gave us a bounce. Y-2 acted as resistance and sent euro down to almost Y-4. Closed the week below Y-3 and near week low.
Outlook
Warned for weeks that euro wants 1.32 and it is finally there. 1.32 is important in multiple higher timeframes. A definitive bottom on daily at this level will send euro back up to 1.35 or higher.
As long as that has not happened yet, all bounces are just pullbacks will the potential of euro breaking down to 1.30 and below.
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