Recap Made new high early in the week. A complex 3 push formation sent the pair lower to 50% absolute expansion and bounded from there. 1-2-3 sell off from Y+1 late in the week dropped euro to close at low of the week.
Outlook Last week whole week is a big 1-3- formation, should B-1 fail to act as support, a drop to B-3 is expected.
A rare scenario may unfold if B-1 is not breached early in the week then a quick rally to B+1 or slightly higher around 1.43 is possible.
Lawrence's Comment
Recap
Inside week. Absolutely going nowhere. Closed the week below Y-0 and midpoint.
Outlook
A week of bear flag points to retest of Y-1 sometime next week.
If a base ...
Lawrence's Comment
Recap
Last week was one of the most volatile option expiration week in recent months. Y-0 held early in the week gave us a run to Y+2. Y+2 rejected we ...
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EURUSD Mar 28 to Apr 01 Outlook
Lawrence’s Comment
Made new high early in the week. A complex 3 push formation sent the pair lower to 50% absolute expansion and bounded from there. 1-2-3 sell off from Y+1 late in the week dropped euro to close at low of the week.
Outlook
Last week whole week is a big 1-3- formation, should B-1 fail to act as support, a drop to B-3 is expected.
A rare scenario may unfold if B-1 is not breached early in the week then a quick rally to B+1 or slightly higher around 1.43 is possible.
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