Recap Euro going lower to Y-2 as expected. Failed to clear the gap above gave us the Y-3 target below. Normal range expansion reached. Closed the week below Y-2 and midpoint.
Outlook B-0 / Y-2 resistance points to retest of B-1. B-1 acting as support will give us a bounce back up to B+1 / Y-1.
Lawrence's Comment
Recap
Consolidation with pullback to target mentioned last week. No real action until end of week tension increased between US and Russia. Closed the week near Y+1 and B+1.
Outlook
Above B+1 ...
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 Jan 12 to Jan 16 Outlook
Lawrence’s Comment
Euro going lower to Y-2 as expected. Failed to clear the gap above gave us the Y-3 target below. Normal range expansion reached. Closed the week below Y-2 and midpoint.
Outlook
B-0 / Y-2 resistance points to retest of B-1. B-1 acting as support will give us a bounce back up to B+1 / Y-1.
Share