Trading Edges That Last
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As Featured In
EURUSD Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Easiest play last week. Euro tagged Y+2 which was also the up channel resistance. It then pullback to Y+1 and failed to hold there. Flushed towards Y-1. Closed the week below Y-0 and near week low.
Outlook
Wide range reversal with weak close. Potential down trend on weekly in place. As long as euro fails to close above B-0 on weekly basis, more downside is coming. May take several weeks to get down to B-3 depending on what happens in the other related markets.
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