Recap Once the Y+1 breakout happened, we can already tell Y+2 was the target because that is the upper boundary of the tight range defined over past few weeks. Once Y+2 was tagged, euro was weakened. Closed the week near Y+1 and at midpoint.
Outlook Until B-0 holds, and breakout above B+1, it is not an uptrend.
The way euro pullback to Y+1 is promising for the long side but it is also potentially a FBO against the upper boundary.
If Euro do a lower higher sell setup breaking B-0, expect all out selloff back down to B-2, the other end of the sideway range so far.
Lawrence's Comment
Recap
1-2-3 sell off Y+1 on 4 hour points to Y-0 in play. Y-0 failed to act as support, giving us Y-1 target below. Flush later in the week tagged ...
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Lawrence's Comment
Recap
Upside breakout right from the start of the week. Y-2 tagged and acted as resistance. NQ pulled back to week mid and consolidate. Closed the week around midpoint and ...
Lawrence's Comment
Recap
Early part of the week rallied to Y-0 as expected. But then news shock sent Dow straight down to Y-1. W. spring off Y-1 pushed Dow back ...
EURUSD Oct 22 to Oct 26 Outlook
Lawrence’s Comment
Once the Y+1 breakout happened, we can already tell Y+2 was the target because that is the upper boundary of the tight range defined over past few weeks. Once Y+2 was tagged, euro was weakened. Closed the week near Y+1 and at midpoint.
Outlook
Until B-0 holds, and breakout above B+1, it is not an uptrend.
The way euro pullback to Y+1 is promising for the long side but it is also potentially a FBO against the upper boundary.
If Euro do a lower higher sell setup breaking B-0, expect all out selloff back down to B-2, the other end of the sideway range so far.
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