Recap Bear flag broken, dropped to B-1 and below as expected. Bounced back up to Y-0 and led to another drop to week low. Closed the week below Y-1 and at week low.
Outlook Euro is hanging on a thread here above 1.28. A spike low below B-2 can stop the current down move if a strong bounce is resulted from the flush. Until Euro can reclaim B-0, it will not be strong enough to move higher to the longer term resistance at B+2 / Y+3.
Lawrence's Comment
Recap
Euro held the close from the week before last and drifted up slowly. It cleared Y-0 and tried to zoom higher. Then the news shock came and sent it ...
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
EURUSD Sep 22 to Sep 26 Outlook
Lawrence’s Comment
Bear flag broken, dropped to B-1 and below as expected. Bounced back up to Y-0 and led to another drop to week low. Closed the week below Y-1 and at week low.
Outlook
Euro is hanging on a thread here above 1.28. A spike low below B-2 can stop the current down move if a strong bounce is resulted from the flush. Until Euro can reclaim B-0, it will not be strong enough to move higher to the longer term resistance at B+2 / Y+3.
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