Recap Y-0 resistance sent Euro lower. Y-1 not strong support as explained last time. Euro found support after 100% absolute range expansion to the down side. Strong bounce back up to Y-0 and rejected. Closed the week below Y-1 and midpoint.
Outlook A push down to test 1.06 is in the making. The question is whether Euro zone will do something about it. The emergency meeting called by the Fed and other central bankers this Sunday é Monday may produce a lot of surprises to the trading communities.
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
Directional break down from Y-0 resistance. Tagged Y-2 and bounced. Took 2 more tries below Y-2 before a strong bounce could materialize. Closed the week near Y-2 and below ...
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
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 Nov 23 to Nov 27 Outlook
Lawrence’s Comment
Y-0 resistance sent Euro lower. Y-1 not strong support as explained last time. Euro found support after 100% absolute range expansion to the down side. Strong bounce back up to Y-0 and rejected. Closed the week below Y-1 and midpoint.
Outlook
A push down to test 1.06 is in the making. The question is whether Euro zone will do something about it. The emergency meeting called by the Fed and other central bankers this Sunday é Monday may produce a lot of surprises to the trading communities.
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