Lawrence's Comment
Recap
Double news shock. First one sending the pair higher but it failed to stay above Y+1. Second one dropping the pair below Y-0 yet failed to keep it ...
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
Lawrence's Comment
Recap
Gapped down to Y-1 yet found an excuse to move back up to Y-0. Failed to clear Y-0 and fell straight down to Y-3. The reversal was as impressive ...
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 20 to Feb 24 Outlook
Lawrence’s Comment
Sold off to below 1.30 triggered intervention by spreading rumors and speculative news again. Closed the week below Y-0 and above midpoint.
Outlook
Below 1.30 is rejected due to intervention implying those in control do not want to see 1.29 to print at all, or for now.
That however failed to take euro much higher like last few times as most other related markets are not responding well too.
As long as B-0 upto B+1 acting as resistance, retest of B-1 and more downside is expected.
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