Recap Test of the support zone mentioned last week as expected. Support held up well and gave us a push to Y+2. Closed the week near Y+2 and week high.
Outlook Measured move upside target reached from the run started 3 weeks ago. 1.14 is key price level for weekly to break the down trend. A spike reversal next week against B+1 will give us Y+1 / B-0.
Lawrence's Comment
Recap
Consolidation around Y-1. In waiting mode for ECB's actions this coming week. Closed the week above Y-1 and midpoint.
Outlook
All week bear flag near Y-1 is bearish. Consolidation ...
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EURUSD Aug 24 to Aug 28 Outlook
Lawrence’s Comment
Test of the support zone mentioned last week as expected. Support held up well and gave us a push to Y+2. Closed the week near Y+2 and week high.
Outlook
Measured move upside target reached from the run started 3 weeks ago. 1.14 is key price level for weekly to break the down trend. A spike reversal next week against B+1 will give us Y+1 / B-0.
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