Recap Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
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
As expected the exhaustion run led to a strong pullback. Y-0 did not act as support and led to all out sell off back down to Y-1. Y-1 was ...
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
EURUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Euro found resistance exactly at where I expected. Easiest play last week. Sold off since Y+1 was rejected and continue to weaken. Closed the week below Y-1 and near week low.
Outlook
They keep trying to avoid it but the selling still happened. A drop to Y-2 is likely. The big question is whether it will trigger a massive drop to 1.34 or lower.
Long side has to wait til B-0 acting as support.
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