Recap As expected, more upside this week. Held up well in the support zone mentioned last week. Range expansion to Y+2 and stopped there.
Outlook As long as B-0 acts as support, B+1 will be retested. In order for this pair to change its trend, we need to get a weekly confirmed selloff which close below the prior week midpoint. That means, for this week, unless we see euro closing below Y+1 to B-0, the rally is likely going to continue.
Lawrence's Comment
Recap
Unlike Dow, NQ gave a strong performance last week and completed its upside break out target at Y+4 based on monthly. Closed the week near the high.
Outlook
A ...
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
Original accessment that Dow would consolidate between Y-0 and Y+1 was correct for the first part of the week. Then the b.s. gap up in mid-week failed to pop ...
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 May 02 to May 06 Outlook
Lawrence’s Comment
As expected, more upside this week. Held up well in the support zone mentioned last week. Range expansion to Y+2 and stopped there.
Outlook
As long as B-0 acts as support, B+1 will be retested. In order for this pair to change its trend, we need to get a weekly confirmed selloff which close below the prior week midpoint. That means, for this week, unless we see euro closing below Y+1 to B-0, the rally is likely going to continue.
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