Recap Went lower as expected. Violent challenge of Y-1 from below failed and gave as 1.27 by end of the week. Closed the week below Y-2 and near week low.
Outlook Bearish with a potential surprise squeeze in the making. 4 Hour chart showing classic downside wedge in the making, once the resistance line is broken to the upside will force euro back up to target zone of B+1.
As long as euro fails to clear that and B-0 / Y-1 resistance area, 1.26 downside target from last week still in play.
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
Down channel turned into a wedge. Then breakout happened conveniently at the right time sending this back up to my target above. 200% absolute range expansion stopped the run. ...
Lawrence's Comment
Recap
Perfect double top on daily sent Dow back down to double top target. Technical buying / short covering started and sent Dow straight back up. Closed the week near ...
Lawrence's Comment
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 ...
EURUSD Nov 12 to Nov 16 Outlook
Lawrence’s Comment
Went lower as expected. Violent challenge of Y-1 from below failed and gave as 1.27 by end of the week. Closed the week below Y-2 and near week low.
Outlook
Bearish with a potential surprise squeeze in the making. 4 Hour chart showing classic downside wedge in the making, once the resistance line is broken to the upside will force euro back up to target zone of B+1.
As long as euro fails to clear that and B-0 / Y-1 resistance area, 1.26 downside target from last week still in play.
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