Trading Edges That Last
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EURUSD May 23 to May 27 Outlook
Lawrence’s Comment
The expected messy drift towards our resistance zone covered most part of the week. Once the resistance zone was tagged, a quick selloff took the pair back down to previous week close.
Outlook
B-1 should be tested early in the week. B-2 is likely. B-3 is also in play.
A rare scenario can happen if some kind of news shock (or intervention) happening next week – if B+1 is taken out on a shock, B+3 is the first price level where the run can pause.
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