Recap Y-0 acted as resistance, down trend continued. Sold off to my downside target by the end of the week. Closed the week near week low and below Y-2.
Outlook Not time to pick bottom yet although the selling is a bit overdone. Consolidation around B-1 is expected with downside bias.
The counter-trend play may happen if euro flushed lower in the beginning of the week at Y-4 and snapped back up above Y-3 on daily close basis. From there the upside target is Y-1.
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
Lawrence's Comment
Recap
The easy play last week. Y-0 acted as resistance and gave us a selloff down to Y-3 my target. It cannot get any easier than this. Closed the week ...
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 Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Y-0 acted as resistance, down trend continued. Sold off to my downside target by the end of the week. Closed the week near week low and below Y-2.
Outlook
Not time to pick bottom yet although the selling is a bit overdone. Consolidation around B-1 is expected with downside bias.
The counter-trend play may happen if euro flushed lower in the beginning of the week at Y-4 and snapped back up above Y-3 on daily close basis. From there the upside target is Y-1.
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