Recap Clean break of Y-1 instead of FBO. That set the stage to a run down to Y-3. Y-3 tagged and gave us a bounce. Y-2 acted as resistance and sent euro down to almost Y-4. Closed the week below Y-3 and near week low.
Outlook Warned for weeks that euro wants 1.32 and it is finally there. 1.32 is important in multiple higher timeframes. A definitive bottom on daily at this level will send euro back up to 1.35 or higher.
As long as that has not happened yet, all bounces are just pullbacks will the potential of euro breaking down to 1.30 and below.
Lawrence's Comment
Recap
Y-1 acted as support and forced a run back up to Y+1. Strong reaction there gave us a drop back down. Closed the week below Y-0 and midpoint.
Outlook
Outside week, ...
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 page
Trading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Previous week close support sent ES back up to challenge week high so far. Gap above allowed for Y+1 breakout. Closed the week above Y+1 and midpoint.
Outlook
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
EURUSD Aug 25 to Aug 29 Outlook
Lawrence’s Comment
Clean break of Y-1 instead of FBO. That set the stage to a run down to Y-3. Y-3 tagged and gave us a bounce. Y-2 acted as resistance and sent euro down to almost Y-4. Closed the week below Y-3 and near week low.
Outlook
Warned for weeks that euro wants 1.32 and it is finally there. 1.32 is important in multiple higher timeframes. A definitive bottom on daily at this level will send euro back up to 1.35 or higher.
As long as that has not happened yet, all bounces are just pullbacks will the potential of euro breaking down to 1.30 and below.
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