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.
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
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
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
Bullish expectation is correct with Y-0 support pushing higher. 125 round number attracted selling and forced ninja back down. Closed the week below Y+1 and midpoint.
Outlook
It is ...
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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