Recap Y-2 / 1.26 indeed stopped the drop and staged a bounce. Yet it failed to clear Y-1 resulting in another flush lower to near Y-3. Closed the week below Y-2 and near week low.
Outlook Euro has expanded its weekly level flush to near 1.25 where it is now over extended by time, finally. With such strong momentum to the down side, it is expected to be difficult to bounce back up.
If euro can successfully stage an earlier we reversal from slightly below B-1 to above B-0 in 1 go, we have a counter-trend play with target above B+2.
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
Just like the forex majors, Dow jumped higher right from the start and stayed there til Fed announcement. The odd thing though, is that the jump did not result ...
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
Unlike Dow or ES, I have mentioned that NQ cleared an important resistance zone, thus it can go higher still. Here it is, zooming upto Y+3 normal ...
Lawrence's Comment
Recap
Congestion between B-1 to B+1 most of the week. Then total collapse once the week low is taken out the last moment of the week. Obvious stop ...
EURUSD Oct 06 to Oct 10 Outlook
Lawrence’s Comment
Y-2 / 1.26 indeed stopped the drop and staged a bounce. Yet it failed to clear Y-1 resulting in another flush lower to near Y-3. Closed the week below Y-2 and near week low.
Outlook
Euro has expanded its weekly level flush to near 1.25 where it is now over extended by time, finally. With such strong momentum to the down side, it is expected to be difficult to bounce back up.
If euro can successfully stage an earlier we reversal from slightly below B-1 to above B-0 in 1 go, we have a counter-trend play with target above B+2.
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