Recap Euro weekly bear flag progressed up to Y+2. News shock and discovery of stops sent Euro up to Y+3 and then Y+4. Closed the week above Y+3 and midpoint.
Outlook Weekly bear flag turned into monthly bear flag / pullback. It will likely be a roller coaster ride from here as lots of trapped longs need to unload above 1.12. A test of B-0 / Y+2 is expected this week.
Lawrence's Comment
Recap
Easy play of the week. Stopped at resistance mentioned last week and flushed down to Y-2 1st target below. Closed the week below Y-1 and near midpoint.
Outlook
As long as ...
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Lawrence's Comment
Recap
Instead of testing Y-1 first, ninja opted for test of Y-0 zone resistance first. That forced a drop in ninja back down to Y-1 later in the week. Closed ...
EURUSD May 04 to May 08 Outlook
Lawrence’s Comment
Euro weekly bear flag progressed up to Y+2. News shock and discovery of stops sent Euro up to Y+3 and then Y+4. Closed the week above Y+3 and midpoint.
Outlook
Weekly bear flag turned into monthly bear flag / pullback. It will likely be a roller coaster ride from here as lots of trapped longs need to unload above 1.12. A test of B-0 / Y+2 is expected this week.
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