EURUSD Apr 30 to May 04 Outlook
By News Robot
Lawrence’s Comment
Recap
Pullback early in the week proven Y-0 as strong support. However, Euro has difficulties in pushing through Y+1. Closed the week near week high and above Y+1.
Pullback early in the week proven Y-0 as strong support. However, Euro has difficulties in pushing through Y+1. Closed the week near week high and above Y+1.
Outlook
The original upside target of 1.33 was not tagged last week, just moving close to that. If early next week 1.33 is blown through, do not attempt to fade the move because a lot of shorts would be trapped.
For those interested in the short side, we need a strong breakdown that clear B-0 quickly. That will open the door down to B-2.
Comments
Shorted EUR after first break on May 1st.
Covered half and waiting for further development.