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As Featured In
EURUSD Jun 03 to Jun 07 Outlook
Lawrence’s Comment
Rally from higher low support trendline from past 2 weeks back up to Y+1 and then breakout to the upside target. As expected the breakout could not last and whiplash action took place and dropped euro back down to below Y+1. Closed the week above midpoint and Y-0.
Outlook
If B-0 holds, we get an upside breakout with confirmed retest of the down trendline resistance from above. That is bullish and B+1 will be taken out easily with B+2 target likely by end of the week.
If B-0 fails to support euro, the whiplash action will be in full force with downside target of B-2 in play.
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