Recap Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
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Lawrence's Comment
Recap
Quick steep pullback in the beginning of the week. Then pre-Brexit weekly close acted as support and led to test of Y+1. 2nd attempt at Y+1 cleared the resistance ...
Lawrence's Comment
Recap
As expected Cable going higher. Stalled at 100% absolute range expansion. Closed the week from a pullback to Y+1.
Outlook
Rejected Y+1 to B+1 area pointing to further consolidation with ...
Lawrence's Comment
Recap
Consolidation week moving around Y+1. Closed the week near Y+1 and midpoint.
Outlook
Y+1 acting as resistance if give us a test of Y-0 / B-2.
EURUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook
They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
Long side has to wait til B-0 acting as support.
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