1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely at its week low and produced a even bigger 1-2-3 buy and tagged our resistance area (yellow zone) at the end of the week.
Next Week Outlook
Last week close is also the close of last year/quarter/month. It will be the most important price level for the coming month.
If previous week close acts as resistance, first stop for euro is 1.324 (red zone).
If previous week close acts as support, first stop is 1.36 (green zone).
Lawrence's Comment
Recap
Breakout to the down side. Tagged B-1 downside target. Not quite pullback. More like price shock due to the way gold moved last week. Closed the week near week ...
Lawrence's Comment
Recap
Dropped below Y-1 and popped back up immediately. That put Y-0 in play and tagged Y-0 quickly. Failure to go higher from Y-0 sent it back down ...
EURUSD Jan 3rd to Jan 7th Outlook
Recap of Last Week
1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely at its week low and produced a even bigger 1-2-3 buy and tagged our resistance area (yellow zone) at the end of the week.
Next Week Outlook
Last week close is also the close of last year/quarter/month. It will be the most important price level for the coming month.
If previous week close acts as resistance, first stop for euro is 1.324 (red zone).
If previous week close acts as support, first stop is 1.36 (green zone).
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