Recap Right after the announcement of a solution to their crisis, a new one pops up from Greece caused euro to erase all its gain from the week prior. Traded the rest of the week between Y-2 to Y-1. Closed the week below Y-1.
Outlook Visible bear flag on 4 hours points to further selloff is likely. The downside target is Y-2. If that can hold, a test of B-0 is likely.
Failing to bounce from Y-2 points to the next downside target around 1.34 area.
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
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EURUSD Nov 07 to Nov 11 Outlook
Lawrence’s Comment
Right after the announcement of a solution to their crisis, a new one pops up from Greece caused euro to erase all its gain from the week prior. Traded the rest of the week between Y-2 to Y-1. Closed the week below Y-1.
Outlook
Visible bear flag on 4 hours points to further selloff is likely. The downside target is Y-2. If that can hold, a test of B-0 is likely.
Failing to bounce from Y-2 points to the next downside target around 1.34 area.
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