Recap Text book STOPD move on this pair again. Broken Y-1 first, meaning more downside is to be expected, then rallied back to the sell zone mentioned last week. Once the sell zone was tagged, 2nd leg selloff all the way back down to week low. Closed the week at Y-1.
Outlook As long as B-0 is acting as resistance, long is still out of the question. The likely downside target is B-2. Should the pair rally above B-0, will be looking for quick rally to B+1 and then B+2.
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
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 Feb 14 to Feb 18 Outlook
Lawrence’s Comment
Text book STOPD move on this pair again. Broken Y-1 first, meaning more downside is to be expected, then rallied back to the sell zone mentioned last week. Once the sell zone was tagged, 2nd leg selloff all the way back down to week low. Closed the week at Y-1.
Outlook
As long as B-0 is acting as resistance, long is still out of the question. The likely downside target is B-2. Should the pair rally above B-0, will be looking for quick rally to B+1 and then B+2.
Share