Recap Y-1 breached early in the week but did not act as resistance. W. spring formed with Y-1 acting as support sending euro back up to Y-0. Closed the week near Y-0 and above midpoint.
Outlook Consolidation up drift back to Y-0 resistance zone is not a surprise. Back to weekly down trend resistance means a decision has to be made early next week if Y-0 / B+1 will force a turn back down. If so, we get Y-1 again.
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
Failed to break above the resistance zone I mentioned last week, selloff continue. Closed the week near the low of the week.
Outlook
The down channel is intact but potential ...
EURUSD Apr 20 to Apr 24 Outlook
Lawrence’s Comment
Y-1 breached early in the week but did not act as resistance. W. spring formed with Y-1 acting as support sending euro back up to Y-0. Closed the week near Y-0 and above midpoint.
Outlook
Consolidation up drift back to Y-0 resistance zone is not a surprise. Back to weekly down trend resistance means a decision has to be made early next week if Y-0 / B+1 will force a turn back down. If so, we get Y-1 again.
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