Recap Y-0 acted as resistance initially but not strong enough to hold euro down. Clearing Y-0 gave way to retest Y+1. Closed the week near Y+1 and week high.
Outlook Crime scene 1.14 is in play. If it decisively stops euro from going higher, euro will be forced to go back down to B-1 and likely lower.
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Lawrence's Comment
Recap
ES pushed into Y+1 and Y+2 zone as expected. So far no sign of reversal though. Closed the week near Y+2 and above midpoint.
Outlook
Test of B+1 will ...
EURUSD Sep 14 to Sep 18 Outlook
Lawrence’s Comment
Y-0 acted as resistance initially but not strong enough to hold euro down. Clearing Y-0 gave way to retest Y+1. Closed the week near Y+1 and week high.
Outlook
Crime scene 1.14 is in play. If it decisively stops euro from going higher, euro will be forced to go back down to B-1 and likely lower.
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