Recap Started the week below Y-1 and failed to push back above. Dropped down to near Y-3 and found support. Bounced back up. Closed the week below Y-1 and near week high.
Outlook Consolidation at 50% range below Y-1 is bearish. B+1 / Y-1 to B+2 is very strong resistance. As long as Euro cannot clear the zone, more downside is likely.
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
Y+1 / previous week close resistance dropped Dow back down to Y-0. Dow bounced off Y-0 to fill the gap above and stalled. After NFP Dow dropped to Y-0 ...
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EURUSD Jun 01 to Jun 05 Outlook
Lawrence’s Comment
Started the week below Y-1 and failed to push back above. Dropped down to near Y-3 and found support. Bounced back up. Closed the week below Y-1 and near week high.
Outlook
Consolidation at 50% range below Y-1 is bearish. B+1 / Y-1 to B+2 is very strong resistance. As long as Euro cannot clear the zone, more downside is likely.
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