Recap Y-0 held as support, zoomed higher at the end of the week to Y+2 and above as expected. Closed the week above Y+2 and midpoint.
Outlook The last part of the rally is pure stop run thus the pre-breakout price of B-0 will likely be retested.
Euro is not in a long term rally setup, it is more like a trading range in weekly thus upside is limited. Looking for sudden reversal to take it back down to B-1 once the excessive bearish sentiment is washed.
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
Out of the 3 indices, ES is the worst offender among them in trapping the bears. Gap higher to start the week and drifted lower into FOMC announcement. Then ...
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 Jun 10 to Jun 14 Outlook
Lawrence’s Comment
Y-0 held as support, zoomed higher at the end of the week to Y+2 and above as expected. Closed the week above Y+2 and midpoint.
Outlook
The last part of the rally is pure stop run thus the pre-breakout price of B-0 will likely be retested.
Euro is not in a long term rally setup, it is more like a trading range in weekly thus upside is limited. Looking for sudden reversal to take it back down to B-1 once the excessive bearish sentiment is washed.
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