Recap Made new high early in the week. A complex 3 push formation sent the pair lower to 50% absolute expansion and bounded from there. 1-2-3 sell off from Y+1 late in the week dropped euro to close at low of the week.
Outlook Last week whole week is a big 1-3- formation, should B-1 fail to act as support, a drop to B-3 is expected.
A rare scenario may unfold if B-1 is not breached early in the week then a quick rally to B+1 or slightly higher around 1.43 is possible.
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
Although yen spiked in the middle of the week, it ended up closing around close of the week prior to last week. 200% absolute range expansion completed.
Outlook
Upside breakout ...
EURUSD Mar 28 to Apr 01 Outlook
Lawrence’s Comment
Made new high early in the week. A complex 3 push formation sent the pair lower to 50% absolute expansion and bounded from there. 1-2-3 sell off from Y+1 late in the week dropped euro to close at low of the week.
Outlook
Last week whole week is a big 1-3- formation, should B-1 fail to act as support, a drop to B-3 is expected.
A rare scenario may unfold if B-1 is not breached early in the week then a quick rally to B+1 or slightly higher around 1.43 is possible.
Share