Recap The expected messy drift towards our resistance zone covered most part of the week. Once the resistance zone was tagged, a quick selloff took the pair back down to previous week close.
Outlook B-1 should be tested early in the week. B-2 is likely. B-3 is also in play.
A rare scenario can happen if some kind of news shock (or intervention) happening next week – if B+1 is taken out on a shock, B+3 is the first price level where the run can pause.
Lawrence's Comment
Recap
Breakout play netted 200 pips instead of just 100. The best surprise of the week. The pair did not stop until Y+5 was tagged. A lot of trapped shorts ...
EURUSD May 23 to May 27 Outlook
Lawrence’s Comment
The expected messy drift towards our resistance zone covered most part of the week. Once the resistance zone was tagged, a quick selloff took the pair back down to previous week close.
Outlook
B-1 should be tested early in the week. B-2 is likely. B-3 is also in play.
A rare scenario can happen if some kind of news shock (or intervention) happening next week – if B+1 is taken out on a shock, B+3 is the first price level where the run can pause.
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