EURUSD Apr 20 to Apr 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-1 breached early in the week but did not act as resistance. W. spring formed with Y-1 acting as support sending euro back up to Y-0. Closed the week near Y-0 and above midpoint.

Outlook
Consolidation up drift back to Y-0 resistance zone is not a surprise. Back to weekly down trend resistance means a decision has to be made early next week if Y-0 / B+1 will force a turn back down. If so, we get Y-1 again.

Share

  • You must be logged in to comment. Log in