EURUSD May 04 to May 08 Outlook

By News Robot

Lawrence’s Comment

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.

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