Recap Sideway drift continues with Y-0 acted as support in the beginning of the week which gave us a run to Y+1. Y+1 rejected gave us a move back down to Y-0. Y-0 was rejected again leading to Y+1 retest. Closed the week near Y+1 and week high.
Outlook Euro in slow up drift channel. A push to B+2 is in the card but not much higher. Should Euro fail to hold above B-0, the up channel will be broken giving us Y-1 as the target.
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
The consolidation scenario unfolded. Whole week trapped within Y-1 to Y-0.
Outlook
As long as B+1 to Y-0 acts as resistance, B-1 will be retested. The week long consolidation means ...
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
EURUSD Jun 30 to Jul 04 Outlook
Lawrence’s Comment
Sideway drift continues with Y-0 acted as support in the beginning of the week which gave us a run to Y+1. Y+1 rejected gave us a move back down to Y-0. Y-0 was rejected again leading to Y+1 retest. Closed the week near Y+1 and week high.
Outlook
Euro in slow up drift channel. A push to B+2 is in the card but not much higher. Should Euro fail to hold above B-0, the up channel will be broken giving us Y-1 as the target.
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