Recap Gapped below 1.32 and never made it back above. End of week dumping led to normal target Y-2. Closed the week near Y-2 and week low.
Outlook More down side expected. Consolidation week after range expansion week ended up closing at the low is bearish.
Potential short term bottom between Y-3 to B-2 could be formed if euro flushes down there quickly and snap back up. A bottom in that zone points to B+1 and above likely.
Lawrence's Comment
Recap
Consolidation actions after wide range expansion was normal. ECB decisions sparked wild swings both ways. Y-0 support gave us a run for Y+2 but not enough time to get ...
Lawrence's Comment
Recap
Compressed further early in the week leading to clean Breakout to the down side. 100% absolute range expansion stopped the drop. Closed the week below Y-1 and midpoint.
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EURUSD Sep 01 to Sep 05 Outlook
Lawrence’s Comment
Gapped below 1.32 and never made it back above. End of week dumping led to normal target Y-2. Closed the week near Y-2 and week low.
Outlook
More down side expected. Consolidation week after range expansion week ended up closing at the low is bearish.
Potential short term bottom between Y-3 to B-2 could be formed if euro flushes down there quickly and snap back up. A bottom in that zone points to B+1 and above likely.
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