Recap As expected euro went a bit higher above Y+1 and then consolidated near Y+1 most of the week until more news fed out from European officials again. And then the expansion stopped right at Y-0 and bounced off. Closed the week above Y-0.
Outlook B-1 must act as support or we get B-2 and B-3 quickly.
Not much upside for Euro as there are evidence that higher timeframes (weekly and up) resistance are pressing it down.
Lawrence's Comment
Recap
Aussie spiked above Y+1 yet not able to hold above. Consolidated above Y-0. Swinged below with immediate snap back points to retest of Y+1 and above. Got Y+2 and ...
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 Aug 13 to Aug 17 Outlook
Lawrence’s Comment
As expected euro went a bit higher above Y+1 and then consolidated near Y+1 most of the week until more news fed out from European officials again. And then the expansion stopped right at Y-0 and bounced off. Closed the week above Y-0.
Outlook
B-1 must act as support or we get B-2 and B-3 quickly.
Not much upside for Euro as there are evidence that higher timeframes (weekly and up) resistance are pressing it down.
Share