Recap Text book STOPD move on this pair again. Broken Y-1 first, meaning more downside is to be expected, then rallied back to the sell zone mentioned last week. Once the sell zone was tagged, 2nd leg selloff all the way back down to week low. Closed the week at Y-1.
Outlook As long as B-0 is acting as resistance, long is still out of the question. The likely downside target is B-2. Should the pair rally above B-0, will be looking for quick rally to B+1 and then B+2.
Lawrence's Comment
Recap
Breakout to the down side. Tagged B-1 downside target. Not quite pullback. More like price shock due to the way gold moved last week. Closed the week near week ...
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Lawrence's Comment
Recap
The selloff in the beginning of the week failed to produce a lower low to break the up trend. Rallied to new high by midweek due to ...
EURUSD Feb 14 to Feb 18 Outlook
Lawrence’s Comment
Text book STOPD move on this pair again. Broken Y-1 first, meaning more downside is to be expected, then rallied back to the sell zone mentioned last week. Once the sell zone was tagged, 2nd leg selloff all the way back down to week low. Closed the week at Y-1.
Outlook
As long as B-0 is acting as resistance, long is still out of the question. The likely downside target is B-2. Should the pair rally above B-0, will be looking for quick rally to B+1 and then B+2.
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