Recap Euro blasted through 1.14 level and triggered a squeeze. 1.17 monthly resistance was tagged and rejected. Euro then fall straight back down to Y+1. Y+2 resistance gave us a clean drop to Y-0. Closed the week near Y-0 and week low.
Outlook FBO against both monthly and weekly resistance above is bearish. Y+1 / B-0 now very strong resistance until proven otherwise. Likely continuation of long term decline.
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
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
Y-1 rejected in the beginning of the week leading to a run to Y-0 / open gap resistance zone. Dow failed to stay above Y-0 giving us a go ...
As the long term Tick16 index is staying in the bullish zone, and that the short term Tick16 has moved away from the long term index for some time already, ...
EURUSD Aug 31 to Sep 04 Outlook
Lawrence’s Comment
Euro blasted through 1.14 level and triggered a squeeze. 1.17 monthly resistance was tagged and rejected. Euro then fall straight back down to Y+1. Y+2 resistance gave us a clean drop to Y-0. Closed the week near Y-0 and week low.
Outlook
FBO against both monthly and weekly resistance above is bearish. Y+1 / B-0 now very strong resistance until proven otherwise. Likely continuation of long term decline.
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