Recap Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
Lawrence's Comment
Recap
Tagged resistance zone as expected, but no breakout above that. Instead, ninja fell back down to Y-0 eventually. Most part of the week was spend holding right below Y+1 ...
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EURUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook
They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
Long side has to wait til B-0 acting as support.
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