Trading Edges That Last
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EURUSD Apr 29 to May 03 Outlook
Lawrence’s Comment
Was looking for a break of Y-1 and then a slide down to Y-3. Did not happen. No clean break down. Just a consolidation week around Y-1. Closed the week at midpoint and above Y-1.
Outlook
This is type of weekly setup I avoid to trade because the potential sell setup is absorbed making it difficult not like for the longs but also the shorts. Will need to see the reaction at B-1 and B+1, whichever tagged first, before I can tell what is more likely to happen next.
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