Trading Edges That Last
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EURUSD Apr 07 to Apr 11 Outlook
Lawrence’s Comment
Euro went lower as expected. Strong reaction several times to stop the drop yet not able to change the course. Closed the week below Y-1 and midpoint.
Outlook
Critical week with euro sitting right above longer term support. Longer term resistance Y-0 to Y+1 will be difficult to break. That staged a potential fight back up to Y+1 / B+2.
As long as euro stays below B-0 / Y-0, more downside is expected. Once this zone is cleared, euro has a good chance to rally to Y+1.
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