Recap Y-0 acted as support helping euro to clear Y+1 in 1 go. Y+2 tagged and Y+1 turned into support for breakout play towards Y+3. Y+4 tagged and stopped the squeeze. Closed the week above Y+2 and midpoint.
Outlook Short squeeze is not a stable setup. A test of B-0 down to Y+1 likely.
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Lawrence's Comment
Recap
Wait and see mode as mentioned last week. Previous week close acted as support sending ninja back up to Y-0 and then back up to the crime scene right ...
Lawrence's Comment
Recap
Y+1 did nothing at all in stopping Dow from going higher. The next higher resistance at around 13050 was blasted thru after shorts was trapped by the bearish ...
Lawrence's Comment
Recap
As expected, intervention or not, euro sold off from our resistance area down to below our target zone. Then range expansion to the downside until Y-4 is tagged. ...
EURUSD Aug 17 to Aug 21 Outlook
Lawrence’s Comment
Y-0 acted as support helping euro to clear Y+1 in 1 go. Y+2 tagged and Y+1 turned into support for breakout play towards Y+3. Y+4 tagged and stopped the squeeze. Closed the week above Y+2 and midpoint.
Outlook
Short squeeze is not a stable setup. A test of B-0 down to Y+1 likely.
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