Recap Consolidated around Y+1 all week. No real direction. Closed the week below Y+1 and above midpoint.
Outlook As mentioned last week, euro on weekly close basis as long as it cannot clear Y+1, it is likely a daily level swing top is in place. Euro just closed near Y+1 to keep us guessing.
At this point a short term sell setup at 1.34 area will take euro back down to B-2.
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
The messed up pair of the week. Started out the week with Y-0 acting as resistance, forcing it to break down to target zone Y-3. Then staged a ...
EURUSD Aug 26 to Aug 30 Outlook
Lawrence’s Comment
Consolidated around Y+1 all week. No real direction. Closed the week below Y+1 and above midpoint.
Outlook
As mentioned last week, euro on weekly close basis as long as it cannot clear Y+1, it is likely a daily level swing top is in place. Euro just closed near Y+1 to keep us guessing.
At this point a short term sell setup at 1.34 area will take euro back down to B-2.
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