Recap Cannot even get pass 1.28 and then euro zone sending out more bad news. Y-1 failed to act as support and euro ended up flushing down to Y-2. Closed the week near the low.
Outlook Any w. spring from here points to a bounce to around Y+1.
Continuation sell target is Y-3 / B-2. Bounce from there gives us B-0.
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Lawrence's Comment
Recap
Y+1 test rejected. Cable slided back down to Y-0 eventually.Closed the week below Y-0 and near week low.
Outlook
Upside rejected decisively. Y-0 / B-0 strong resistance unti proven ...
Lawrence's Comment
Recap
Consolidation around previous week close. Y-0 acted as support. Closed the week above Y-0 and midpoint.
Outlook
Consolidation instead of pullback from blowoff action is bullish. This points to ...
EURUSD May 28 to Jun 01 Outlook
Lawrence’s Comment
Cannot even get pass 1.28 and then euro zone sending out more bad news. Y-1 failed to act as support and euro ended up flushing down to Y-2. Closed the week near the low.
Outlook
Any w. spring from here points to a bounce to around Y+1.
Continuation sell target is Y-3 / B-2. Bounce from there gives us B-0.
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