Recap Rallied to Y+2. As if hitting a brick wall, euro made a hard turn and dropped back to Y+1 and then broken down to retest Y-1. Closed the week below Y-0 and midpoint.
Outlook More problems from euro zone. As long as B-0 / Y+1 is acting as resistance, this will send euro back down to B-2 and probably lower.
However, this is a pullback in terms of the daily uptrend just established last 2 weeks. Until we get more evidence that euro has failed to go higher, like a weekly reversal, will be careful with short.
This week almost produced a weekly reversal should euro closed below Y-1.
For now, holiday mode, light volume, and erratic moves til 1st week in Jan is over.
Lawrence's Comment
Recap
Sold off as expected. Target Y-3 tagged. Easy weekly move completed. Closed the week near Y-2 and midpoint.
Outlook
Gaps above B+1 and below B-1 are in play once ...
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
Recap of last week The red and yellow zone from last weekly outlook pretty much captured the complete range of ES, not bad. The additional resistance area at 1180 ...
Lawrence's Comment
Recap
Tried to bounce off Y-1 with a w. spring. Tagged B-0 but failed to stay above that for long. Produced a 100% absolute range expansion and bounced back ...
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 Dec 10 to Dec 14 Outlook
Lawrence’s Comment
Rallied to Y+2. As if hitting a brick wall, euro made a hard turn and dropped back to Y+1 and then broken down to retest Y-1. Closed the week below Y-0 and midpoint.
Outlook
More problems from euro zone. As long as B-0 / Y+1 is acting as resistance, this will send euro back down to B-2 and probably lower.
However, this is a pullback in terms of the daily uptrend just established last 2 weeks. Until we get more evidence that euro has failed to go higher, like a weekly reversal, will be careful with short.
This week almost produced a weekly reversal should euro closed below Y-1.
For now, holiday mode, light volume, and erratic moves til 1st week in Jan is over.
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