Recap Euro weekly bear flag progressed up to Y+2. News shock and discovery of stops sent Euro up to Y+3 and then Y+4. Closed the week above Y+3 and midpoint.
Outlook Weekly bear flag turned into monthly bear flag / pullback. It will likely be a roller coaster ride from here as lots of trapped longs need to unload above 1.12. A test of B-0 / Y+2 is expected this week.
Lawrence's Comment
Recap
Moved higher to 1.12 as expected. A steep pullback to Y-0 too as if following the script. Y-0 support gave us a run to 100% absolute range expansion. Closed ...
Lawrence's Comment
Recap
Previous week close acted as support and in turn making Y-0 into support. Pushed to Y+1 target and collapsed back down since. Y-1 strong support as mentioned last week ...
Lawrence's Comment
Recap
Support area did not hold and gave us a break down instead. Slided down to Y-2 the usual downside target. Closed the week below Y-2 and midpoint.
Outlook
3rd push down ...
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EURUSD May 04 to May 08 Outlook
Lawrence’s Comment
Euro weekly bear flag progressed up to Y+2. News shock and discovery of stops sent Euro up to Y+3 and then Y+4. Closed the week above Y+3 and midpoint.
Outlook
Weekly bear flag turned into monthly bear flag / pullback. It will likely be a roller coaster ride from here as lots of trapped longs need to unload above 1.12. A test of B-0 / Y+2 is expected this week.
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