Recap Euro formed an up channel and drifted higher all week to near Y+1. Channel breakdown led to flush back down to near Y-1. Closed the week below Y-0 and midpoint.
Outlook Inside week points to breakout mode. Clean break of Y+1 points to Y+2 and Y+3 while clean break of Y-1 points to Y-2 and Y-3.
Lawrence's Comment
Recap
Tight range consolidation although it did not feel like it for many. Dow found support early in the week and moved back to previous week close and stuck there ...
Lawrence's Comment
Recap
Failed to push above bear flag resistance. Bear flag support broken later in the week leading to all out flush down to Y-1. Closed the week below ...
Lawrence's Comment
Recap
Found support at the support zone mentioned last week. Rallied to Y+1 and closed the week there.
Outlook
Likely that the pair has found its daily level bottom. As long ...
EURUSD Feb 01 to Feb 05 Outlook
Lawrence’s Comment
Euro formed an up channel and drifted higher all week to near Y+1. Channel breakdown led to flush back down to near Y-1. Closed the week below Y-0 and midpoint.
Outlook
Inside week points to breakout mode. Clean break of Y+1 points to Y+2 and Y+3 while clean break of Y-1 points to Y-2 and Y-3.
Share