Recap Euro dropped to Y-1 and found support right below. 4 hour bottom from there sent euro back up to near Y+1. Euro paused when it reached 100% absolute range expansion. Closed the week above Y-0 and midpoint.
Outlook End of week action looks more like stop run than real buying. Until Y+1 is cleared, it is still strong resistance that can send euro back down to Y-0 / B-0 first.
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
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
Weekly FBO confirmed with a drop back down to Y-2 normal target. Volatility however makes the move more difficult to deal with for many. Closed the week below Y-1 ...
EURUSD Apr 06 to Apr 10 Outlook
Lawrence’s Comment
Euro dropped to Y-1 and found support right below. 4 hour bottom from there sent euro back up to near Y+1. Euro paused when it reached 100% absolute range expansion. Closed the week above Y-0 and midpoint.
Outlook
End of week action looks more like stop run than real buying. Until Y+1 is cleared, it is still strong resistance that can send euro back down to Y-0 / B-0 first.
Share