Recap First half of the week formed a perfect head and shoulder that has a target breaking the Y-0 support area. That resulted in a drop running towards the Y-1 target. Ended the week with 100% range of previous week.
Outlook If Y-1 to B-1 forms a bottom, B+1 will be retested.
Lawrence's Comment
Recap
Y-1 acted as support. Bounced back up to Y-0 and found resistance. Dropped to equal distance below previous week close. Closed the week near Y-1 and below midpoint.
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EURUSD Jun 13 to Jun 17 Outlook
Lawrence’s Comment
First half of the week formed a perfect head and shoulder that has a target breaking the Y-0 support area. That resulted in a drop running towards the Y-1 target. Ended the week with 100% range of previous week.
Outlook
If Y-1 to B-1 forms a bottom, B+1 will be retested.
If that turns into resistance, B-3 is the target.
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