Recap Euro bounced higher from Y-1 but failed to clear Y-0 the strong resistance zone. That opened the door to a flush down to Y-3. Euro reacted to the 1.27 round number but it was capped by Y-2. Closed the week below Y-2 and at week low.
Outlook As mentioned last week, euro was hanging on a thread and a flush is likely unless it could clear Y-0. Well, that did not happen. Euro has not shown us clear signs of exhaustion to the down side yet but a short term swing low is due.
Euro being able to hold 1.26 early in the week will give us a run back up to at least B-0 and likely Y-1.
Lawrence's Comment
Recap
Flushed below Y-1 and snap back up as expected. Pretty much risk free long since. Zoomed higher until 100% absolute range expansion is completed. Closed the week above Y-0 ...
Lawrence's Comment
Recap
Beautiful drop from the head and shoulder neckline to the target in 1 go. Eventually stopped at 100% range expansion and bounced. Closed the week near Y-2 and below ...
EURUSD Sep 29 to Oct 03 Outlook
Lawrence’s Comment
Euro bounced higher from Y-1 but failed to clear Y-0 the strong resistance zone. That opened the door to a flush down to Y-3. Euro reacted to the 1.27 round number but it was capped by Y-2. Closed the week below Y-2 and at week low.
Outlook
As mentioned last week, euro was hanging on a thread and a flush is likely unless it could clear Y-0. Well, that did not happen. Euro has not shown us clear signs of exhaustion to the down side yet but a short term swing low is due.
Euro being able to hold 1.26 early in the week will give us a run back up to at least B-0 and likely Y-1.
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