Recap Euro cleared the resistance zone mentioned last week, staging Y-0 support for a run to Y+1 and above. And that’s exactly what happened right after. 100% absolute range expansion stopped euro from going higher. Closed the week above Y-0 and near midpoint.
Outlook Decisive rejection of the 1.28 to 1.29 zone. FBO against Y+1 in place on weekly. As long as Y+1 acting as resistance, we get a flush back down to B-1 and likely Y-1 soon.
Recap of last week Flushed down as expected, tagged the previous month 2x downside target (good!) but not tagging the 50% weekly expansion target to the downside and reversed ...
Lawrence's Comment
Recap
Failed to hold up at the top support area and fell off the cliff like Dow. Closed the week tagging Y-1.
Outlook
Outside down week and closed almost at the ...
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
EURUSD Oct 20 to Oct 24 Outlook
Lawrence’s Comment
Euro cleared the resistance zone mentioned last week, staging Y-0 support for a run to Y+1 and above. And that’s exactly what happened right after. 100% absolute range expansion stopped euro from going higher. Closed the week above Y-0 and near midpoint.
Outlook
Decisive rejection of the 1.28 to 1.29 zone. FBO against Y+1 in place on weekly. As long as Y+1 acting as resistance, we get a flush back down to B-1 and likely Y-1 soon.
Share