Recap Started the week below Y-1 and failed to push back above. Dropped down to near Y-3 and found support. Bounced back up. Closed the week below Y-1 and near week high.
Outlook Consolidation at 50% range below Y-1 is bearish. B+1 / Y-1 to B+2 is very strong resistance. As long as Euro cannot clear the zone, more downside is likely.
Lawrence's Comment
Recap
Dow in consolidation mode until trouble in Asia spreaded. Sell shock produced a 100% expansion off the tight range and Y-2 was tagged. Closed the week near Y-2 and ...
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Lawrence's Comment
Recap
False breakout to the upside first. Confirmed failure points to selloff to original tight range bottom at around Y-2. Downside breakout of the tight range after tagging Y-2. ...
EURUSD Jun 01 to Jun 05 Outlook
Lawrence’s Comment
Started the week below Y-1 and failed to push back above. Dropped down to near Y-3 and found support. Bounced back up. Closed the week below Y-1 and near week high.
Outlook
Consolidation at 50% range below Y-1 is bearish. B+1 / Y-1 to B+2 is very strong resistance. As long as Euro cannot clear the zone, more downside is likely.
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