Recap As expected euro just cannot gather enough support to hold up. Dropped to Y-2 and jawboning from ECB only created a pop that lasted several hours. Closed the week near Y-2 and below midpoint.
Outlook Euro down trend intact. More down side likely. Rare case scenario that Euro jumps above B+1, a squeeze will take it up to B+3.
Lawrence's Comment
Recap
Y-1 acted as support early in the week sending this back up to the down channel top. Channel resistance forced a turn lower and we got the channel support ...
Lawrence's Comment
Recap
FBO scenario played out. Easy drop to target by the end of the week. Closed the week below Y-1 and near week low.
Outlook
Daily up trend ended with ...
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 Dec 08 to Dec 12 Outlook
Lawrence’s Comment
As expected euro just cannot gather enough support to hold up. Dropped to Y-2 and jawboning from ECB only created a pop that lasted several hours. Closed the week near Y-2 and below midpoint.
Outlook
Euro down trend intact. More down side likely. Rare case scenario that Euro jumps above B+1, a squeeze will take it up to B+3.
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