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EURUSD Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Y-0 acted as resistance, down trend continued. Sold off to my downside target by the end of the week. Closed the week near week low and below Y-2.
Outlook
Not time to pick bottom yet although the selling is a bit overdone. Consolidation around B-1 is expected with downside bias.
The counter-trend play may happen if euro flushed lower in the beginning of the week at Y-4 and snapped back up above Y-3 on daily close basis. From there the upside target is Y-1.
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