EURUSD Aug 25 to Aug 29 Outlook

By News Robot

Lawrence’s Comment

Recap
Clean break of Y-1 instead of FBO. That set the stage to a run down to Y-3. Y-3 tagged and gave us a bounce. Y-2 acted as resistance and sent euro down to almost Y-4. Closed the week below Y-3 and near week low.

Outlook
Warned for weeks that euro wants 1.32 and it is finally there. 1.32 is important in multiple higher timeframes. A definitive bottom on daily at this level will send euro back up to 1.35 or higher.

As long as that has not happened yet, all bounces are just pullbacks will the potential of euro breaking down to 1.30 and below.

Share

  • You must be logged in to comment. Log in