Recap Euro got its 1.32 test and zoomed thru it to Y+2 and 1.33. Closed the week above Y+2 and midpoint.
Outlook Thin rising wedge / up channel in place. It is not, however, a bullish pattern. If Euro failed to stay above Y+1 / B-0 and that turns into resistance, I am looking for a quick flush back down to B-3.
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
Tried hard to produce the extreme bearish formation of Y-1 acting as resistance and failed to do so. That points to a retest of previous close area that ...
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 Jul 29 to Aug 02 Outlook
Lawrence’s Comment
Euro got its 1.32 test and zoomed thru it to Y+2 and 1.33. Closed the week above Y+2 and midpoint.
Outlook
Thin rising wedge / up channel in place. It is not, however, a bullish pattern. If Euro failed to stay above Y+1 / B-0 and that turns into resistance, I am looking for a quick flush back down to B-3.
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