Recap Instead of a reversal euro managed to break out of its up channel without dropping back down below the support zone. Wild swings at the 2nd half of the week yet the range has not expanded. Closed the week near midpoint and Y+1.
Outlook Neutral closing setup means no strong bias to lean on. Given the fact that euro entered this consolidation from an uptrend, a retest of Y+1 and even B+1 is likely.
The better risk reward play is a break of Y-1 / B-2 which points to significant longer term reversal in place.
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
Blow-off action on Monday led to the expected pullback of 30 points. Closed the week below Y-0 and midpoint.
Outlook
Potential blow-off top on weekly. Y-0 / B-0 strong resistance. A ...
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
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 Aug 05 to Aug 09 Outlook
Lawrence’s Comment
Instead of a reversal euro managed to break out of its up channel without dropping back down below the support zone. Wild swings at the 2nd half of the week yet the range has not expanded. Closed the week near midpoint and Y+1.
Outlook
Neutral closing setup means no strong bias to lean on. Given the fact that euro entered this consolidation from an uptrend, a retest of Y+1 and even B+1 is likely.
The better risk reward play is a break of Y-1 / B-2 which points to significant longer term reversal in place.
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