Early in the week a low was formed to create a powerful IHS with neckline at approx. prior week high (green zone). A breakout of that zone in mid week has turned that into a support area. Euro rallied to close at its high of the week. Range was tightened but it was still 400 pips. Volatility is definitely staying.
Next Week Outlook
The IHS has a target of 1.39+. That puts the pair in upside expansion mode and it is matching the 200% upside targets for the prior week and last week. The zone is 1.395 to 1.400 (not shown). If euro tags that area quickly in the beginning of the week, a tradable pullback is expected.
Lawrence's Comment
Recap
Cable dropped to Y-0 and bounced. Breached Y+1 but failed to hold above. That sent cable down to Y-1 in 1 go. Bounced from Y-1 but no longer able ...
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
Right from the start of the week Dow moved higher but struggled to stay above Y+1. The spike high that led to a close well below Y-1 confirmed the ...
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 24th to 28th Outlook
Recap of Last Week
Early in the week a low was formed to create a powerful IHS with neckline at approx. prior week high (green zone). A breakout of that zone in mid week has turned that into a support area. Euro rallied to close at its high of the week. Range was tightened but it was still 400 pips. Volatility is definitely staying.
Next Week Outlook
The IHS has a target of 1.39+. That puts the pair in upside expansion mode and it is matching the 200% upside targets for the prior week and last week. The zone is 1.395 to 1.400 (not shown). If euro tags that area quickly in the beginning of the week, a tradable pullback is expected.
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