Recap Above 1.12 resistance continues to cap the upside for euro. Test of Y+1 dropped euro back down to below 1.12 quickly. Closed the week above Y-0 and midpoint.
Outlook Euro staying strong on the “can kicking down the road” script. Now that another day is set on June 30, this will lead to compression in euro in coming 2 weeks. FOB upside against Y+1 / B+1 can zoom euro up to B+2 / 1.15 area with a quick drop back down to below B+1 is possible.
Lawrence's Comment
Recap
Slow drift up at 50% previous week range. After all, no one dare to challenge BOJ at this point. Closed the week near week high and above Y+1.
Outlook
Japan will ...
Lawrence's Comment
Recap
As expected, ES dropped below 2000 to challenge its monthly support zone. Picture perfect Y-2 test sent ES striaght back up to Y-1, breakout and zoom higher to Y-0 ...
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 Jun 15 to Jun 19 Outlook
Lawrence’s Comment
Above 1.12 resistance continues to cap the upside for euro. Test of Y+1 dropped euro back down to below 1.12 quickly. Closed the week above Y-0 and midpoint.
Outlook
Euro staying strong on the “can kicking down the road” script. Now that another day is set on June 30, this will lead to compression in euro in coming 2 weeks. FOB upside against Y+1 / B+1 can zoom euro up to B+2 / 1.15 area with a quick drop back down to below B+1 is possible.
Not the best time to trade euro.
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