Recap There is a data problem with the chart. The high made in the beginning of the week was just a little above Y+1. It was a FBO against Y+1 which immediately sent euro back down to the support trend line from past 2 weeks. 2nd attempt to clear Y+1 was stopped right at 1.26 round number level. This resulted in a strong bear flag break down sending euro below Y-1. Closed the week below Y-1 and near week low.
Outlook November low will be challenged. Breaking that points to the all important 1.20 will be in play.
Lawrence's Comment
Recap
More news from euro zone popped euro back up to B+1 but that is all they could mustard up. Closed the week at midpoint.
Outlook
Indecision. Breaking in the ...
Lawrence's Comment
Recap
Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
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Lawrence's Comment
Recap
S&P gapped down right from the start of the week as if it was going to break below Y-1. Yet it gapped up right after and tagged Y+1 the ...
Lawrence's Comment
Recap
Similar to Dow, NQ collapsed to Y-1 early in the week and bounced right off. NQ, however, is so strong after Apple's announcement on its new products, ...
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
EURUSD Nov 24 to Nov 28 Outlook
Lawrence’s Comment
There is a data problem with the chart. The high made in the beginning of the week was just a little above Y+1. It was a FBO against Y+1 which immediately sent euro back down to the support trend line from past 2 weeks. 2nd attempt to clear Y+1 was stopped right at 1.26 round number level. This resulted in a strong bear flag break down sending euro below Y-1. Closed the week below Y-1 and near week low.
Outlook
November low will be challenged. Breaking that points to the all important 1.20 will be in play.
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