Recap As mentioned last week, Y-0 would be the important support for euro to go higher. Throughout the week, Y-0 acted as support and euro zoomed higher after the empty promises were made by the officials. Then news shocks that took euro lower and breached Y-0 temporarily failed to keep euro below Y-0. Closed the week near week high and Y+1.
Outlook Summer Games is not over yet. Light trading in all markets continue. Thus quick swings with no follow-thru is expected.
Euro can go a bit higher in consolidation mode around B+1.
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
Pretty much behaved exactly like Dow. Closed the week near week high and Y+2.
Outlook
The IHS in place that is visible on 30-min and hourly points to a run to ...
Lawrence's Comment
Recap
Initially bounced off Y-1 but failed to go above Y-0. That caught a lot of people by surprise. Surprise breakout points to normal expansion target of Y-3 ...
EURUSD Aug 06 to Aug 10 Outlook
Lawrence’s Comment
As mentioned last week, Y-0 would be the important support for euro to go higher. Throughout the week, Y-0 acted as support and euro zoomed higher after the empty promises were made by the officials. Then news shocks that took euro lower and breached Y-0 temporarily failed to keep euro below Y-0. Closed the week near week high and Y+1.
Outlook
Summer Games is not over yet. Light trading in all markets continue. Thus quick swings with no follow-thru is expected.
Euro can go a bit higher in consolidation mode around B+1.
Share