Recap Euro consolidated between Y+2 (the crime scene before the last flush) and Y-0 (wedge breakout support). Y+1 / 1.10 did not act as support hence no short term trend change yet. Closed the week below Y+1 and midpoint.
Outlook Summer trading was suppose to be slow and tight range. But here we go again Greece is having another referendum over this weekend. This time the ruling party itself is at the crossroad. Cannot tell what the impact is so Euro is a wait and see for me this week.
Lawrence's Comment
Recap
Held Y-1 in beginning of the week led to a bounce towards Y-0. Failed to reach Y-0 and retested Y-1 as expected. Consolidated around Y-1 since. Closed the week ...
Lawrence's Comment
Recap
Picture perfect seasonal shift from bullish to bearish mode. Previous week close resistance sent Cable straight down to Y-1 from break of the rising wedge that spanned 2 weeks. ...
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EURUSD Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Euro consolidated between Y+2 (the crime scene before the last flush) and Y-0 (wedge breakout support). Y+1 / 1.10 did not act as support hence no short term trend change yet. Closed the week below Y+1 and midpoint.
Outlook
Summer trading was suppose to be slow and tight range. But here we go again Greece is having another referendum over this weekend. This time the ruling party itself is at the crossroad. Cannot tell what the impact is so Euro is a wait and see for me this week.
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