Recap Euro spiked higher above Y+1, but failed immediately back below Y-0, staging an all out breakdown. Yet, it drifted higher since until midpoint of week was tagged. Closed the week near Y-0 and below midpoint.
Outlook On track to break B-1 to form a strong swing top that can last for weeks. Once B-1 is breached and that turning into resistance B-3 target is expected.
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
Consolidation with tight range around Y-1. Closed the weekbelow Y-1 and near week low.
Outlook
Waterfall effect points to potential drop down to Y-2 and Y-3 before support is ...
EURUSD Apr 22 to Apr 26 Outlook
Lawrence’s Comment
Euro spiked higher above Y+1, but failed immediately back below Y-0, staging an all out breakdown. Yet, it drifted higher since until midpoint of week was tagged. Closed the week near Y-0 and below midpoint.
Outlook
On track to break B-1 to form a strong swing top that can last for weeks. Once B-1 is breached and that turning into resistance B-3 target is expected.
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