Recap Euro tried to hold Y-1 but failed to clear 1.13 and eventually failed to hold above 1.12. Tight range consolidation. Closed the week near Y-1 and below midpoint.
Outlook Long term resistance 1.12 and above now confirmed resistance again after the violent FBO 2 weeks ago. B-0 / B+1 zone resistance points to continuation play with B-3 and below target.
Lawrence's Comment
Recap
Aussie breached Y-0 and gave us a nice drop to Y-1. Failed to hold Y-1 and broke down to Y-2 and then Y-3 before it could bounce. Y-2 resistance ...
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
As expected the pair tagged Y+2 first. Then wild swing in gold price dropped the pair lower. Closed the week between Y+2 to Y+3.
Outlook
Continuation rally to B+2 is ...
Lawrence's Comment
Recap
As expected, Cable has more upside to go and that played out last week. A directional squeeze up to Y+2 near 1.7 finally produced an exhaustion. Cable weaken since ...
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
Last Friday Moody downgraded Cable after US stock market closed which led to a melt down within minutes. Making the situation worse, it was the last hour of the week ...
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 Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Euro tried to hold Y-1 but failed to clear 1.13 and eventually failed to hold above 1.12. Tight range consolidation. Closed the week near Y-1 and below midpoint.
Outlook
Long term resistance 1.12 and above now confirmed resistance again after the violent FBO 2 weeks ago. B-0 / B+1 zone resistance points to continuation play with B-3 and below target.
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