Recap Am correct that euro entered its resistance area from various higher timeframes. The sell off from 1.39 of 200+ pips confirm longer term players are reacting to the price level. Y-0 acted as support and sent euro back up to Y+1 area to close the week.
Outlook Forming a double top at B+1 points to downside target at B-3.
Breaking above B+1 will send euro up to 1.40 quickly. That will take more rumor spreading by the european officials.
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 Oct 24 to Oct 28 Outlook
Lawrence’s Comment
Am correct that euro entered its resistance area from various higher timeframes. The sell off from 1.39 of 200+ pips confirm longer term players are reacting to the price level. Y-0 acted as support and sent euro back up to Y+1 area to close the week.
Outlook
Forming a double top at B+1 points to downside target at B-3.
Breaking above B+1 will send euro up to 1.40 quickly. That will take more rumor spreading by the european officials.
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