Recap Pusher higher in the beginning of the week to fill the gap above but failed. News hit the wire before it was done. Euro collapsed back down to Y-2 before it can find real support. Closed the week below Y-1 and midpoint.
Outlook Still news driven environment for Euro. Cyprus trouble is not even close to being resolved. This repeated problem of more crisis showing up will discourage people from putting money into euro. Hence there is no short term liquidity support at all. A slide to 1.26 the longer term support zone is not out of the question.
Lawrence's Comment
Recap
Breakout to the down side. Tagged B-1 downside target. Not quite pullback. More like price shock due to the way gold moved last week. Closed the week near week ...
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
Lawrence's Comment
Recap
Tight range breakout to the upside. Tagged breakout target of Y+3. Closed the week near Y+3 and week high.
Outlook
Consolidation around B+1 likely until NFP Friday.
EURUSD Apr 01 to Apr 05 Outlook
Lawrence’s Comment
Pusher higher in the beginning of the week to fill the gap above but failed. News hit the wire before it was done. Euro collapsed back down to Y-2 before it can find real support. Closed the week below Y-1 and midpoint.
Outlook
Still news driven environment for Euro. Cyprus trouble is not even close to being resolved. This repeated problem of more crisis showing up will discourage people from putting money into euro. Hence there is no short term liquidity support at all. A slide to 1.26 the longer term support zone is not out of the question.
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