Recap Comparing to GBP, euro had a more difficult selloff. It took better half of the week to make an attempt to test Y-1 and finally sold off to almost Y-2.
Outlook Euro is resisting the selloff. Trend buy players are stepping in to support 1.42, 1.41, and 1.40 levels. Thus the price movement this week will likely be a mess. Would prefer to wait for the moving average crowds to finish their fights here first. As long as Y-1 to B+1 acts as resistance, the down trend on 4 hours is intact.
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
Drifted back to Y-0 as expected, failed to hold the zone led to a quick selloff of 100% absolute expansion andbounced off right there. Closed the week ...
Lawrence's Comment
Recap
Cable failed to hold Y-1 as expected and dropped to the target zone mentioned last week. It failed to bounce above Y-1, hence the down trend continued until 100% ...
Lawrence's Comment
Recap
The more interesting scenario happened. Cable held Y-0, breakout of Y+1 and gave us 1.60 and Y+3 in 1 go. Essentially no heat taken. Cannot ask for ...
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
EURUSD May 16 to May 20 Outlook
Comparing to GBP, euro had a more difficult selloff. It took better half of the week to make an attempt to test Y-1 and finally sold off to almost Y-2.
Outlook
Euro is resisting the selloff. Trend buy players are stepping in to support 1.42, 1.41, and 1.40 levels. Thus the price movement this week will likely be a mess. Would prefer to wait for the moving average crowds to finish their fights here first.
As long as Y-1 to B+1 acts as resistance, the down trend on 4 hours is intact.
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