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
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
We got our downside move and we got way more than we asked for. Not just y-2 was tagged, Yen slided all the way to below Y-3 and ...
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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