Recap Expectation of euro going lower paid off. FOMC announcement failed to swing euro above Y+1 and gave us the Y-2 target. Closed the week below Y-1 and midpoint.
Outlook As long as B-0 acting as resistance, euro should consolidate with downside bias towards B-2.
Lawrence's Comment
Recap
As the US debt talk crisis continue, USD trashed across all majors. Closed the week at the G8 intervention price level now.
Outlook
Weak but also potential long term bottom ...
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
Traded similarly to Dow, sold off to Y-2 and bounced back upto Y-1 to close the week.
Outlook
Trade above B-0 and that it turns into support, Y+1 will be ...
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 Dec 23 to Dec 27 Outlook
Lawrence’s Comment
Expectation of euro going lower paid off. FOMC announcement failed to swing euro above Y+1 and gave us the Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
As long as B-0 acting as resistance, euro should consolidate with downside bias towards B-2.
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