Recap As mentioned last week, Y-0 would be the important support for euro to go higher. Throughout the week, Y-0 acted as support and euro zoomed higher after the empty promises were made by the officials. Then news shocks that took euro lower and breached Y-0 temporarily failed to keep euro below Y-0. Closed the week near week high and Y+1.
Outlook Summer Games is not over yet. Light trading in all markets continue. Thus quick swings with no follow-thru is expected.
Euro can go a bit higher in consolidation mode around B+1.
Recap
No selloff. No strong rally. Started the week with a 3 push up to Y+1 for a staged selloff back down to Y-1. Rinse and repeat. Closed the 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
We just encountered one of the wildest week of the year. In the beginning of the week everything looks weak with Y-1 breached yet the gap down induced buying ...
EURUSD Aug 06 to Aug 10 Outlook
Lawrence’s Comment
As mentioned last week, Y-0 would be the important support for euro to go higher. Throughout the week, Y-0 acted as support and euro zoomed higher after the empty promises were made by the officials. Then news shocks that took euro lower and breached Y-0 temporarily failed to keep euro below Y-0. Closed the week near week high and Y+1.
Outlook
Summer Games is not over yet. Light trading in all markets continue. Thus quick swings with no follow-thru is expected.
Euro can go a bit higher in consolidation mode around B+1.
Share