Recap Greece referendum turns out to be a non-event. Euro flushed lower but SNB intervened. Y-1 turned into support after Y-0 was tagged. This setup led to a rally back up until 100% range expansion was reached. Closed the week above Y-0 and midpoint.
Outlook Down trend on 4 hour breached with upside target of B+2 / 1.14 area. Is it the swing low for Euro on weekly, probably not. Do not confuse volatility as strength just like the week before the last.
B-0 now support with Y+1 in play due to FBO against Y-1.
Lawrence's Comment
Recap
Consolidation above Y+1 for several days opened the door to Y+2. Then Dow found an excuse and zoomed up there in 1 go. Tagging Y+2 led to a strong ...
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
Lawrence's Comment
Recap
As expected, even after breaking Y-1 euro refused to go lower quickly. slow choppy action down to near Y-2. Closed the week near Y-2 and week low.
Outlook
1.33 target still ...
EURUSD Jul 13 to Jul 17 Outlook
Lawrence’s Comment
Greece referendum turns out to be a non-event. Euro flushed lower but SNB intervened. Y-1 turned into support after Y-0 was tagged. This setup led to a rally back up until 100% range expansion was reached. Closed the week above Y-0 and midpoint.
Outlook
Down trend on 4 hour breached with upside target of B+2 / 1.14 area. Is it the swing low for Euro on weekly, probably not. Do not confuse volatility as strength just like the week before the last.
B-0 now support with Y+1 in play due to FBO against Y-1.
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