Recap I was talking about sudden wild swings last week and we got that everyday last week. Every day during european session euro drifted lower yet by US session euro popped higher quickly. By Friday however the magic was gone when banks from Spain started feeding out bad news. Closed the week below Y-1 and near week low.
Outlook No one, including ECB, EU and Fed, has provided a reason for anyone to buy euro. As no one sees any signs of stregnth in euro, the selloff on Friday is expected. Big question is how far will euro drop before finding a floor.
As long as B-0 acts as resistance, B-2 to B-3 is likely early next week.
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
Cable simply bottom out at Y-1 and rallied to Y-0 as expected. Went sideway since and holding the week mid at the time before took off again to tag ...
EURUSD Jul 23 to Jul 27 Outlook
Lawrence’s Comment
I was talking about sudden wild swings last week and we got that everyday last week. Every day during european session euro drifted lower yet by US session euro popped higher quickly. By Friday however the magic was gone when banks from Spain started feeding out bad news. Closed the week below Y-1 and near week low.
Outlook
No one, including ECB, EU and Fed, has provided a reason for anyone to buy euro. As no one sees any signs of stregnth in euro, the selloff on Friday is expected. Big question is how far will euro drop before finding a floor.
As long as B-0 acts as resistance, B-2 to B-3 is likely early next week.
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