Recap Euro zoomed back up to Y-0 as expected and stalled from there as the strong downside momentum is still in force. Reaching only 50% of the absolute range expansion and stuck there for the rest of the week.
Outlook As long as Y-0 to B+1 stays as resistance, euro will have to test its year low below 1.29. Due to the drop in volatility during this time of the year, euro may defer this to early next year.
Lawrence's Comment
Recap
As expected yen failed to escape out of the range established in the past few weeks. Tried to take out Y+2 and failed. Fell ack down to ...
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
EURUSD Dec 26 to Dec 30 Outlook
Lawrence’s Comment
Euro zoomed back up to Y-0 as expected and stalled from there as the strong downside momentum is still in force. Reaching only 50% of the absolute range expansion and stuck there for the rest of the week.
Outlook
As long as Y-0 to B+1 stays as resistance, euro will have to test its year low below 1.29. Due to the drop in volatility during this time of the year, euro may defer this to early next year.
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